BNP Paribas

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.

France set a new order book record with its new 50 year syndicated bond on Tuesday. Two other public sector borrowers joined the sovereign at the long of the euro curve.

The UK Debt Management Office launched a new 25 year line on Tuesday, raising £6.5bn. The DMO also published the minutes of its call with investors and Gilt-edged Market Makers on Monday, revealing strong appetite for inflation-linked products.

Total, the French oil and gas company, placed a chunky €3bn hybrid trade on Monday, as the spread between corporate senior and subordinated debt widens after months of tightening.

Spreads have moved away from their tightest levels, but issuers do not seem put off. France will extend the flood of long end deals with its first 50 year OAT syndication in almost five years on Tuesday.

Banque Fédérative du Crédit Mutuel (BFCM) paid up to attract investors to its new preferred senior sterling deal on Monday. Although it was unable to match the quantity of demand set by a BNP Paribas non-preferred deal earlier this month, sources close to the deal were pleased with the quality of investors involved.

BOC Aviation followed Singapore Airlines into the bond market this week, bagging $400m amid a boost in sentiment around the travel industry.

The frenetic pace of dollar bond issuance from Greater China continued on Thursday as three property companies and two government linked names courted investors.