Barclays

Fairy tale conditions for Mexican issuers show little sign of letting up as commercial lender Banco Inbursa and microfinance company Financiera Independencia (Findep) sold well oversubscribed deals.

Rating: Aaa/AA+/AAA

Wells Fargo continued the slew of big ticket issuance from financial names with a $4.5bn deal that pushed its total dollar funding in the past six weeks beyond $8bn.

Alstom Auxiliary Components has released price guidance on the two tranches of its €630m-equivalent facility, which will back its purchase from Alstom by private equity fund Triton.

The primary covered bond market is set to pick up next week, with deals from issuers in the UK, Germany and New Zealand in the offing. Yorkshire Building Society announced its intention to go on the road and bring its first euro deal in five years, Westpac New Zealand has said it also launch a roadshow next week to market the first covered bond since the country enacted a legal framework and Dexia Kommunalkreditbank is set to return with its first deal since 2011.

Financials shrugged off a short week to print €4.5bn of senior euro debt in just two days, as issuers looked to hit the market ahead of next week’s ECB meeting. The promise of more attractive new issue premiums than in recent weeks helped to buoy the trades, with issuers showing growing willingness to pay up slightly to grab investors’ attention.

An innovative new UK guaranteed bond sold last week is set to be one of the main price points when the States of Jersey prints its debut bond, people familiar with the discussions have told GlobalCapital.

Huntsman International, the chemicals manufacturer listed in New York, increased the size of its senior note tap by €45m before pricing it on Wednesday.

France's Alstom Auxiliary Components has released price guidance on the two tranches of its €630m-equivalent facility, which will back its purchase from Alstom by private equity fund Triton.

Turkish Halkbank printed its $500m five year bond flat to its curve on Wednesday having built a book of over $4.25bn for the deal. The bond benefitted from the low supply of Turkish bank bond paper this year and from further sovereign supply expected to be slim for the rest of the year.

Indonesian state-owned oil and gas company Pertamina priced the largest single tranche 30 year dollar bond from an Asian corporate issuer in the early hours of May 23. Despite the leads not announcing the deal until 2:30pm HKT the day before, books built well and investor appetite for Indonesian credits drove pricing through the issuer’s existing curve.

Barclays is set to see two more of its Asia executives depart, continuing a string of resignations from its senior ranks during recent weeks.