Barclays

The Republic of Ghana returned to the international bond markets on Thursday, pricing a $1bn 2026 amortising bond to yield 8.25%, despite worries about the country's fiscal position and a weakening currency.

Sovereign, supranational and agency borrowers this week enjoyed conditions that smacked of the exuberance of 2006 and 2007, but those issuers wanting to take advantage of supply-starved investors next week will have only a narrow window — as a Federal Open Market Committee meeting, a holiday in Japan and Scotland’s vote on independence will make opportunities for issuance few and far between.

UK building materials distributor Travis Perkins on Monday set the final yield at 4.375% on its debut £250m seven year bond, just as the sterling bond market braced itself for the impact of a potential Yes vote in the Scottish independence referendum.

Metropolitan Life hit screens with a trio of senior unsecured deals on Wednesday morning, looking to print in euros, Australian dollars and Swiss francs. Strong appetite for insurance company paper helped assure it of a warm reception for its euro and Aussie deals, with the francs yet to conclude.

Abu Dhabi Commercial Bank returned to the dollar market on Tuesday and made a 50bp saving at the five year part of its curve. Middle Eastern spreads have come flying in over the past year and bankers said that the bond came at the tightest possible level.

Total priced its biggest ever bond on Thursday, a €2.5bn dual tranche deal that included the French borrower’s first 15 year issue in euros since 2009.

The investment grade market was a story of the haves and have-nots as investors showed signs of fatigue amid a deluge of supply.

The Republic of Ghana has released guidance for its new dollar 2026 offering as it continues talks with the International Monetary Fund (IMF).

Barclays hires two for Asia DCM — Mizuho picks Asia fixed income sales head

Pelindo III eyes maiden dollar bond — Indonesia's MPM seeks debut — Tata Comms looks to tackle dollar inaugural — FWD picks five for roadshows — IFC mandates three for dim sum — Honghua seeks international debut

Metropolitan Life hit screens with a trio of senior unsecured deals on Wednesday morning, looking to print in euros, Australian dollars and Swiss francs. Strong appetite for insurance company paper is expected to assure the issuer of a warm reception for its trio of deals.

Barclays is increasing its presence in Asia debt capital markets (DCM) by adding two members to the team, according to sources close to the moves.