Barclays

The still nascent additional tier one market moved toward maturity with the sale of Crédit Agricole’s dual currency transaction this week, a deal that broke new ground in several areas.

UniCredit sailed to success with a three year floating rate deal on Thursday, reaffirming the strength of demand from investors for Italian financial paper. Even investors that normally stick to fixed rate paper were lured into the deal by the prospect of picking up Italian risk.

Deutsche Annington, the German housing company part-owned by Terra Firma, issued its first hybrid capital bond on Tuesday, raising €700m. It was the first large hybrid capital issue from a European property company, bankers said, and demonstrated clearly how the instrument can be used in acquisition finance.

Bank of America Merrill Lynch has made a double hire from Deutsche Bank, adding Adrien de Naurois and Hiren Gudka to its SSA team.

A director in Barclays FIG DCM team has left the bank, GlobalCapital understands.

The Republic of Slovenia demonstrated the huge progress it has made since the start of the year, slicing into its euro curve with a dual tranche deal that pulled its spreads in euros and dollars 10bp-20bp tighter.

Damac Real Estate Development’s debut sukuk helped get Middle Eastern capital market volume off to a strong start for the second quarter, as the company priced a bigger than expected $650m inside guidance late on Wednesday, with over $2.7bn of orders.

Thursday is set to see the first senior unsecured supply of the week, with two euro deals expected to price in the afternoon. Sparebank 1 SR-Bank is selling a seven year benchmark while UniCredit is set to price a three year floater.

Siam Commercial Bank overcame concerns about Thailand’s political backdrop to print a $750m five year bond on April 2, managing to tighten guidance by 30bp in the first deal from the country this year.

The Islamic Republic of Pakistan met investors this week as it looks to return to the international bond market. But while the issuer’s fundamentals are improving, it will still have to work to win over investors, writes Isabella Zhong.

Tullow Oil, the UK company that explores for oil in Africa, is planning to price a $500m high yield bond on Thursday.

Damac Real Estate Development has launched $650m of sukuk – more than the planned $500m – and set the deal well inside initial guidance.