Barclays

Finnish commercial real estate company Citycon was the second Nordic borrower to print bonds in two weeks, following a three month spell when no corporate borrowers from the region came to the market.

German chemical company Evonik hit the reopened European investment grade corporate bond market at pace on Tuesday, as it sought financing for its €3.5bn acquisition of US industrial gas provider Air Products’ speciality and coating additives business.

A trio of issuers on Tuesday mandated for dollar deals across the shorter end of the curve, as underlying US Treasury yields stayed slightly elevated after last Friday’s meeting of central bankers in Jackson Hole.

Finland is bringing a seven year euro benchmark that is almost certain to be priced with a negative yield — but that should do little to quell demand, said bankers on and off the deal.

HSBC found strong demand for an eight year senior bond from its holding company on Tuesday, mirroring UBS’s recent reopener and revealing a potential opportunity for banks’ looking to issue more deeply subordinated debt.

Indonesia’s Cikarang Listrindo and Hong Kong’s Far East Consortium International have set sights on the international bond market, having appointed banks to work on their respective dollar offerings.

Neither heat nor summer holidays could put a dampener on Barclays’ $1.5bn additional tier one trade on Wednesday. The bank brought in a $15bn book for its deal, and on Thursday was hotly traded on the secondary market.

A surfeit of supply hit the long end of the covered bond curve this week as issuers piled in to take advantage of extraordinarily cheap funding conditions that are unlikely to last long. Bill Thornhill reports.

A dance of low yield limbo is forcing public sector borrowers to rewrite their autumn funding plans as crushed rates have made the short end of the euro curve all but inaccessible. Lewis McLellan reports.

John Langley, who heads global financing and risk solutions at Barclays, the division covering DCM, ECM, leveraged finance and risk solutions, is retiring from the industry. He has been with Barclays for 10 years, and the industry for 26.

The State of North Rhine-Westphalia sold on Thursday the longest dated benchmark ever from a German state, in a move which may encourage other Laender to follow suit.

The Brexit vote has damaged banks’ UK hiring plans and left their revenue projections in tatters, but the country’s status as Europe’s biggest fee pool will remain intact, writes David Rothnie.