BNP Paribas

The stakes have rarely been higher for a French election. When French voters head to the polls on Sunday, it may be to determine the fate of the eurozone.

If the €2.1bn of loans Fresenius and Lufthansa found in the Schuldschein market were counted, the market would beat its record for total volume in a first quarter, nearly hitting €8bn in three months. But, as the volume soars, the number of deals is falling, as large deals exceed initial target sizes.

KfW

The euro market will be tested quickly following the first round of the French presidential election on Sunday as the European Financial Stability Facility has sent out a request for proposals.

The first round of the French presidential election takes place this Sunday and, while the market is mostly quiet, Derek Halpenny, head of global markets research at MUFG, says that market participants have not priced in much risk of a shock anti-EU result.

Theresa May stunned the UK on Tuesday by calling a snap general election, but equity capital markets remain calm and the next wave of IPOs is becoming more visible, with two more new deals announced this week.

Korea Resources Corporation, or KoRes, wrapped up its annual return to the dollar bond market with a $425m five year transaction. However, bankers said the issuer paid up due to tensions on the Korean peninsula and an unexpected imminent UK election.

Medical diagnostics firm Unilabs launched a €250m high yield bond with a roadshow this week, to back its acquisition of Alpha Medical. Nomad Foods is also roadshowing a €500m deal.

A hotly contested battle for the French presidency has quieted much of the public sector market this week, but KfW has picked banks for a five year euro benchmark.

VolkerWessels, the Dutch construction and property development group owned by the Wessels family, has announced its intention to float on the Amsterdam Stock Exchange, over a decade after it was taken private in a buyout.

Korea Resources Corporation, or KoRes, is marketing a 144A/Reg S bond on Tuesday. The issuer was recently downgraded by Moody’s – a second time the agency dropped its rating in under a year.

Malaysia’s Cagamas Berhad kicked open the Tuesday market with the launch of a new dollar offering, while Saka Energi Indonesia announced its pursuit of a new dollar deal as well.