BNP Paribas

Investors have enthusiastically backed a €4.6bn financing package for Ineos Quattro, funding the integration of BP’s aromatics and acetyls business into the chemicals conglomerate. Strong demand allowed the company to raise more secured debt than expected, cutting funding costs, and strip out a bank-targeted term loan ‘A’ in favour of a bigger, cheaper, institutional term loan ‘B’.

The Europe Investment Bank extended the euro short term rate (€STR) floating rate note curve on Wednesday with 2021’s first deal in the format.

Macau casino operator SJM Holdings generated a $10bn-plus book for its $1bn debut bond this week, despite tight pricing and the lack of US investors. Its credit profile, the transaction’s timing and a comprehensive marketing strategy worked in its favour.

SK Battery America sold a $1bn green bond this week, overcoming hurdles involving concerns about recent downgrades, and a legal battle with a competitor. Morgan Davis reports.

Indonesia Infrastructure Finance raised $150m from its maiden sustainability bond on Wednesday that proved popular among investors looking to get their hands on the rare southeast Asian credit.

Vonovia, the German property company, brought a 20 year bond on Wednesday which gave further proof that corporate issuers looking to offer duration will find a willing audience.

Deals are lining up in Europe’s high grade corporate bond market and bankers say even Thursday's European Central Bank meeting will not put a dent in primary demand on the day.

The State of Brandenburg failed to reach full subscription for a new 25 year trade on Wednesday as it priced at an exceptionally tight level to its secondary curve.

Tesco, the UK grocer, made a storming debut in the sustainability-linked bond market on Wednesday, encouraging bankers who already expect corporate issuance using the novel structure to rocket this year.

Higher rates and execution certainty in the dollar bond market have given investors something to get excited about, with supply from financials in the currency outstripping that in euros so far this year.

SK Battery America, a subsidiary of South Korea's SK Innovation Co, found outstanding response for its green dollar bond on Tuesday. The firm was able to tighten pricing by 45bp, with the notes trading even tighter in the secondary market.

Tesco has mandated banks for a debut sustainability-linked bond (SLB) from its freshly printed framework. The UK supermarket chain also joins the growing ranks of issuers taking advantage of low interest rates by launching a simultaneous liability management exercise.