BNP Paribas

Garanti Bank on Tuesday raised $750m with the tightest priced Turkish tier two on record which was testament to the level of comfort investors now have with the product, according to bankers leading the transaction who conceded that the global credit rally had also helped.

BOC Aviation is out with a five year bond while Industrial and Commercial Bank of China Dubai branch is making a swift return to the market with a euro offering following a dollar outing on Monday. More deals are also in the pipeline.

Tradeweb Markets, the provider of OTC derivatives trading platforms, has signed up a number of big banks to its Approved Publication Arrangement service, it said on Monday.

The European Financial Stability Facility is lining up a 16 year euro benchmark for Wednesday, following a blow-out €7bn 30 year OAT.

Orders of over $2.2bn had enabled Turkey’s Garanti bank to crush the yield on its debut tier two as it looks on course to print with the lowest ever coupon for a new style Turkish tier two bond.

Industrial and Commercial Bank of China Dubai sold a dual tranche $700m deal on Monday, and is looking to quickly follow it up with a planned euro-denominated bond.

The public sector debt market is in for another hectic week of borrowing as issuers flock to take advantage of the superb conditions left in the wake of Emmanuel Macron’s victory in the French election.

Turkey’s Garanti Bank is expected to capitalise on the strong rally in emerging market credit to print its debut Basel III-compliant tier two capital bond this week, and bankers are wondering how much of the recent market tightening will be seen in the price.

State Bank of India has roped in eight firms to manage the up to $900m IPO of its insurance arm, according to bankers.

Industrial and Commercial Bank of China’s Dubai branch is out on Monday with a dual-tranche floating rate transaction, while logistics group ESR is meeting fixed income accounts in Hong Kong and Singapore this week.

South Korean oil company GS Caltex Corp has mandated banks for a dollar deal, with a global roadshow starting next week.

Société Générale sold €1bn of seven year non-preferred senior floating rate notes on Friday, in a trade that could spark a trend for longer dated FRN issuance.