Barclays

Teva Pharmaceuticals had the corporate dollar market in its thrall this week as it took advantage of US corporate earnings blackouts to print a $15bn M&A blockbuster that attracted nearly $70bn worth of orders.

Commonwealth Bank of Australia drew more demand than any other euro denominated Australian covered bond in over three years when it issued a €1.25bn 10 year this week.

Teva completed the final leg of the bond financing for its acquisition of Allergan's generic drugs business on Thursday, issuing a Sfr1bn ($1bn) triple tranche Swiss franc deal.

The first sterling senior unsecured FIG deals to hit the market since the Brexit vote brought in astonishing demand, first for a blockbuster £1bn trade from Wells Fargo, followed by a bond from Bank of America Merrill Lynch that brought total sterling issuance to £1.75bn on the week.

CDB Capital, a wholly-owned subsidiary of China Development Bank Corp, has mandated banks to arrange a roadshow from Friday for a Reg S only dollar trade.

The price range for the IPO of Enav, the Italian state air traffic control network, has been tightened to €3.20 to €3.50, the top end of the initial €2.90 to €3.50 range.

Israeli-American pharmaceutical company Teva made a swift entry into the European investment grade corporate bond market on Wednesday, winning an order book to rival AB-InBev’s €13.25bn record breaker.

Export-Import Bank of India is set to meet and update investors in Asia, the Middle East and the United States ahead of a proposed 144A trade.

NRW.Bank will bring a no-grow $1bn three year dollar benchmark on Wednesday, after African Development Bank and Rentenbank on Tuesday comfortably raised dollars in longer tenors.

Spain drew nearly €30bn of orders for a new €6bn 10 year benchmark on Tuesday, as Cyprus tightened pricing by 20bp on a seven year deal.

Softbank, the Japanese technology and telecoms group, has taken a ¥1tr ($9.5bn) loan for its £24bn acquisition of Arm Holdings, the UK firm which designs mobile phone chips. The loan could be syndicated to non-Japanese banks if the refinancing strategy requires it, said one senior banker.

With its $15bn of new bonds ratcheting tighter, Israeli-American pharmaceutical company Teva has set out the structure of the euro part of its M&A bond financing for the acquisition of Allergan's generic drugs business.