Barclays

Oil India raised $500m from the sale of its new 10 year notes on Tuesday, winning over investors with its investment grade rating, state support and rarity value.

Invitations are out for a $500m three year borrowing for State Bank of India, which has lined up 13 lenders to lead the deal with the money funded in March.

BlackRock added one year to a $4bn March 2021 five year facility this week, with over 30 banks piling into syndication.

Mubadala raised $1.5bn in the bond market on Tuesday with a dual tranche seven and 12 year deal, the deal was well subscribed but didn’t come as tight to the sovereign as Mubadala’s previous issue.

The slightly softer tone in the Asian markets on Tuesday did not deter issuers from flocking to the debt market, with as many as eight borrowers bagging new bonds. And the momentum continued on Wednesday, with a handful of firms opening their transactions.

The Bank of England has been dragged back into the mire of Libor-rigging investigations, after the BBC found tapes of Barclays traders referring to "pressure from the UK government and Bank of England" to keep their submissions low. The witch-hunt is already well under way but, if the Bank exerted pressure, it was the right thing to do.

Wobbles in eurozone government bond secondaries this week failed to deter a strong showing from a pair of public sector issuers in primary on Tuesday. Unédic found strong demand and tightened from guidance on its longest dated benchmark ever, while Austria broke a series of records with a 10 year euro benchmark.

Stellar funding conditions in emerging markets enabled Romania to print 10 and 18 year debt at record low yields on Monday.

The pace of borrowing has slackened for public sector borrowers as Easter approaches but a few are still out hunting for second quarter funding.

Bank of China launched its multi-currency, multi-tranche transaction on Tuesday morning, as Citic Securities also opened books for two tranches of dollar notes.

Oil India is returning to dollar bonds, launching a new 10 year offering on Tuesday morning, with the aim of paying off debt related to its 2016 Russian oilfield acquisitions.

Unédic and Austria have announced that they will sell euro benchmarks at the long end of the curve on Tuesday.