Barclays

Portugal breathed some liquidity into a pair of outstanding bonds on Wednesday with its first syndication since January, achieving much lower premiums than its last syndication, according to bankers.

The European Union proved that for the right issuers there is considerable demand at the 15 year point of the curve, with the Joint Länder planning a return to the market with a seven year benchmark for the first time since a mooted deal in February stalled.

The European Investment Bank added the latest piece of evidence that a socially responsible label can help drive demand at tricky tenors, as it sold a Climate Awareness Bond on Wednesday that was the largest 10 year dollar bond from a supranational or agency so far this year.

Telefónica hit the European bond market on Wednesday for a €2.75bn dual tranche deal that drew hefty demand, but later widened in secondary.

Ahli Bank Qatar has tightened price guidance for its debut bond to 265bp-275bp area over swaps, and the deal looks set for success, according to a banker away from the mandate.

A March recovery in European bank stocks is looking short lived after Barclays warned investors that first quarter investment banking revenues would be poor, and Italian banks resumed their slide.

CK Hutchison, the conglomerate with headquarters in Hong Kong, issued €2bn in the European corporate bond market on Tuesday, diversifying the market’s sources of non-European deal flow.

ArcelorMittal’s $3.015bn rights issue, as part of its $4bn debt cutting plan, was completed oversubscribed, the steelmaker said on Monday, despite the gloomy outlook for the European steel industry.

Portugal is lining up for its first test of the syndication market since the European Central Bank announced its latest round of monetary easing measures a month ago — measures that have had less effect on Portugal than its periphery peers.

Ahli Bank Qatar (IBQ) has released initial price guidance for its debut bond, a Reg S dollar benchmark, at 275bp area over mid-swaps.

CK Hutchison Holdings has kicked off bookbuilding for a euro-denominated dual-tranche offering, which will mark the firm’s return to the currency after a gap of 18 months.

The Inter-American Development Bank made an early claim on Monday for a spot in this week’s dollar issuance, in what its leads said was a move to ensure it did not add its name to a growing trend for SSA deal clashes.