Citi

Ryanair left parts of the corporate bond market ‘gobsmacked’ on Tuesday, as the first benchmark-sized new issue from an airline since lockdowns from Covid-19 battered the sector managed to reprice the issuer’s curve.

The European Investment Bank hit screens with a five year dollar benchmark on Tuesday in what will be the latest in a series of European supranationals and agencies issuing bonds in this currency and maturity.

The Kingdom of Bahrain, one of only two sub-investment grade sovereigns in the Gulf, is tapping markets for its second bond of the year. The mandate comes just weeks after Bahrain increased its debt ceiling as Gulf states grapple with the impact of low oil prices and Covid-19 on their spending plans.

The UK Debt Management Office raised £8bn ($10.24bn) with its first 15 year syndication on Tuesday morning, the first of two Gilt syndications it will hold during September.

Real estate-focused software company Ming Yuan Cloud Group Holdings has kicked off pre-deal investor education for its Hong Kong listing, according to a senior source close to the transaction.

French agency Caisse des Dépôts et Consignations (CDC) hit screens on Monday afternoon with its second ever sustainability bond, following its debut in the format last year.

Ryanair, the Irish budget airline, is marketing the first benchmark sized euro deal from a European airline since the coronavirus pandemic began, with the issuer hoping to build on last week’s wooing of equity investors for a €400m placement.

Yum China, the Mainland-based fast food franchise operator, was eyeing at least HK$17.3bn ($2.2bn) in fresh equity on Friday after giving investors some price guidance for its secondary listing in Hong Kong.

Singapore-listed Frasers Centrepoint Trust is looking to raise S$1.39bn ($1.02bn) by selling new units equal to over half its existing stock.

Indonesian oil and natural gas company Pertamina has shortlisted six banks for a bridge loan of as much as $3bn to support its acquisition of energy assets.

The summer slowdown finally arrived in the US corporate bond market this week, with just a handful of issuers showing up before September's season truly begins — bringing what is expected to be a bumper crop of deals.

Norilsk Nickel, the Russian metal and mining company, was set to issue a benchmark dollar bond on Thursday evening, just months after it was found responsible for a series of major diesel spills.