Barclays

National Australia Bank surprised the covered bond market on Wednesday mandating Barclays, Credit Suisse, Royal Bank of Scotland and itself for a benchmark euro seven year transaction, the fifth in that tenor this month. The announcement came against a volatile credit backdrop as peripheral sovereign bonds widened along with some unsecured bonds.

Pertamina has opened guidance on a long-awaited new bond, a 30 dollar year issue, almost two months after meeting investors. Bankers said the meetings were part of a non-deal roadshow, but investors have nonetheless been expecting a launch for some time.

Barclays, which is restructuring its global investment banking operations, has hired Dan Miller as head of equities sales trading for Hong Kong, China and Asean.

Construction company Empresas ICA made the most of high demand for Mexican high yield paper to print a rare 10 non-call five trade from a LatAm single-B issuer, increasing the size of the deal in the process.

Danske Bank sold the first senior deal of the week on Wednesday afternoon, pricing a four year floating rate note. The issuer was able to sell an oversubscribed deal, despite investors generally expecting interest rates to remain low.

Profit taking has taken a toll on the periphery this week, but even as Italy’s government bonds continued to take a beating on Wednesday and the market for subordinated FIG debt softened, Italian insurer Poste Vita took to the market with a tier two capital transaction at a level that showed investors are still receptive to new deals.

Mexican construction company Empresas ICA announced initial price thoughts of mid-9% for a new 10 year non-call five dollar benchmark to be used to fund a tender offer.

UK poultry producer Moy Park today began roadshowing £250m of senior high yield bonds, to be used in part to repay debt owed by its parent firm, Brazilian food processing company Marfrig.

Equities and credit indices had a so-so day today, but that did not stop three companies punching out deals in the European market, using three of the formats that have recently been popular.

Financiera Independencia, a Mexican microfinance company, is looking to raise $200m of new five year bonds to buy back existing bonds as investors complain about the lack of supply in the Mexican high yield sector.

Barclays, which is undergoing a global restructuring of its investment banking operations, has hired Dan Miller as head of equities sales trading for Hong Kong, China and ASEAN.

After Volkswagen tapped the short end of the sterling market for a £300m 4.5 year early last week, Daimler followed suit on Friday May 9. Then on Tuesday this week FCE Bank, the UK-based finance arm of Ford, visited the same market.