Barclays

Barclays has been in the public firing line all week, with the market anticipating job cuts in the investment bank. Meanwhile, equity analysts at Deutsche have said that the market is valuing the division at zero, based on the current share price.

US interest rates are likely to rise next year. Janet Yellen dared say as much at her maiden press conference as Federal Reserve chair on Wednesday, provoking a swift rise in the Treasury curve.

Volkswagen showed its elite status in the debt capital market again this week by issuing €3bn of hybrid capital — the largest corporate hybrid ever sold entirely in euros.

AIB Mortgage Bank enjoyed a stellar response to its first covered bond of the year. The deal attracted the highest level of oversubscription for any Irish covered bond since the Irish government’s bail-out of its banks, pricing with a double-digit spread over mid-swaps, and with no new issue premium.

British laboratory testing firm Exova launched a £200m IPO on Thursday, using the primary proceeds to reduce its debt.

John Laing Investments is to take a 40% stake in the renewable energy fund John Laing Environmental Assets, increasing its cornerstone holding from 29.9%.

Caribbean telecoms company Digicel sold $1bn of eight year non-call three bonds on Wednesday in a deal run off the leads’ US high yield desks as it looks to buy back up to $775m of existing debt.

Crossover credits ArcelorMittal and Fiat took advantage of a strong market to sell five and seven year euro benchmark bonds on Tuesday.

SBI Capital Markets has joined as a mandated lead arranger and bookrunner on its parent State Bank of India’s $390m loan ahead of a general launch on March 18, but is yet to commit a firm amount.

Italian carmaker Fiat joined the recent flurry of crossover issuers on Tuesday with a seven year speculative grade rated bond. The deal attracted strong demand of over €4.5bn, which allowed Fiat to issue €1bn.

ArcelorMittal raised €750m of five year notes today, in its first bond issue since announcing the call of its hybrid bond in January.

CEE sovereign issuers are standing firm this week, boldly pressing on with their bond issuance plans despite President Vladimir Putin's draft bill approving Russia's annexing of Crimea and the sanctions imposed on Russia by the US and the EU.