Barclays

Moroccan phosphate group OCP priced its $1.25bn of 10 year notes at a 5.75% yield on Wednesday evening, through the tight end guidance that had already been crunched to 5.875% area. A $300m 30 year note was also added in the afternoon, which was priced at 7.375% in line with guidance.

Barclays has appointed new heads of banking and markets and confirmed that it would once again review its investment banking strategy.

Investors snapped up a pair of tightly priced benchmarks from public sector issuers this week — setting up for promising issuance conditions when their funding officials return to the office after the Easter break.

Moroccan phosphate group OCP launched $1.25bn of 10 year notes at a 5.75% yield on Wednesday evening, at the tight end of guidance that had already been crunched to 5.875% area. A $300m 30 year note was also added in the afternoon, with guidance of 7.375% area, and launched at that level.

Snam, the Italian gas transport network, found very strong demand on Wednesday for a €500m bond issue, as investors ignored the threat of war between Russia and Ukraine and piled into West European corporate credit.

Investors snapped up another rare housing association private placement on Friday, when GB Social Housing followed Places for People into the market.

Moroccan phosphate group OCP has tightened price guidance on its 10 year debut bond to a yield of 5.875%, a level that rival syndicate and DCM bankers said represented 100bp over the sovereign and was therefore too generous.

Indonesian textile manufactuer Sri Rejeki Isman (Sritex) made its debut into a soft bond market on Tuesday. A number of unusual covenants and a maiden issue from a new sector meant that the sole lead had to spend some time educating investors.

State Bank of India last week issued a dual tranche bond that was six times oversubscribed, suggesting many investors' outlook on India remains positive.

Strong demand for a pair of benchmarks, plus Italy’s latest BTP Italia, in what is typically a quiet week in the lead up to Easter holidays, has issuance conditions looking promising for sovereign, supranational and agency borrowers when the market re-opens next week.

Technology firm Tencent has been on a bond investor roadshow after putting in place a $5bn GMTN programme.

MTN desks are taking part in a fierce battle of east versus west. They aren’t talking about schools of philosophy, but something more important— where in London to live and more importantly what that says about their age.