Barclays

Bawag, the Austrian banking group that has been owned by Cerberus since 2007, will attempt to go public in Vienna this autumn, with an IPO that will provide a serious test of the strength of investor demand for the European banking sector.

Both investment grade corporate bond new issues on Wednesday came from French issuers. Surprisingly, Total issued its first euro bond of 2017, while PSA Banque France sold its second.

US investors led the charge to CK Hutchison Holdings’ triple-tranche bond on Tuesday, with their strong, and unexpected, support pushing the final deal size beyond the issuer’s expectations.

US machinery manufacturer, John Deere, returned to the euro corporate bond market on Tuesday, selling its second deal in September. The €500m five year deal was issued by the company’s John Deere Bank entity.

CK Hutchison Holdings is wooing dollar debt investors for the third time this year, opening books for a triple-tranche deal on Tuesday morning.

A slightly more hawkish than expected US Federal Open Market Committee meeting mid-week has nudged up US Treasury yields — bringing 10 year dollar issuance nearly within SSAs’ reach, said bankers. But in the meantime, SSA bankers are looking at the dollar pipeline with dismay.

In September, a number of issuers have returned to the European corporate bond markets after a number of years without issuing. On Wednesday, German chemicals distributor Brenntag, Australian property company Goodman and Austrian steel company Voestalpine were the latest to join that list.

Canadian car parts maker Magna International and French property company Gecina both priced 10 year deals in the European corporate bond market this week. Magna had waited two years since its last euro issue, Gecina just three months.

Energy efficiency data released by the UK government has allowed Barclays to launch a green bond framework based on financing environmentally friendly homes.

Stada Arzneimittel, the German pharmaceuticals firm being bought in a €5.3bn deal by Bain Capital and Cinven, opened a bond roadshow on Monday after marketing €2bn of leveraged loans last week .

The UK water and waste company Pennon, which owns South West Water and Viridor, got an overwhelming response to its £300m hybrid offering on Monday. Investors clearly signalled their approval of the unrated company’s growth strategy.

The MTN market has produced a slew of dollar trades while the syndicated market was subdued by the midweek Federal Reserve meeting. Supranationals in particular have been able to pick up some sizeable dollar funding.