Citi

Cyprus will return to the market with a pair of taps on Tuesday, hitting screens alongside the European Financial Stability Facility’s new five year line, providing an excellent opportunity to compare Cyprus’s cost of funds with the cost of the European Stability Mechanism’s pandemic crisis support facility.

Spanish issuers were out in Europe’s corporate bond market on Monday, with Cepsa and Merlin Properties raising debt, as bankers and analysts expect a few weeks of “opportunistic” issuance in the run-up to earnings blackouts.

Assicurazioni Generali launched a greent tier two capital bond in euros on Monday, confirming the appetite for riskier products across bank capital. The new deal left no premium on the table as the issuer capitalised on demand for green subordinated debt.

Bankers and investors say FIG issuance will return to the fore after a sovereign-dominated first half of the year. Three bank issuers this week showed that the market is open for non-sovereign issuers. As fears of a second wave of Covid-19 infections and November's US presidential elections threaten volatility, some say the usually quiet summer period may be inundated with EM issuance.

China’s leading detergent maker Blue Moon Group Holdings is planning to float in Hong Kong for around $1bn, according to a source close to the deal.

Barclays appoints levfin and sponsors leaders — Créd Ag gives Goldfischer UK role — BTIG hires Huggins

Yankee banks ensured a record-breaking first half ended on a high, as European lenders took advantage of strong demand for tier two paper.

Takeda Pharmaceutical was the standout issuer as US high grade corporate bond issuance ground to a halt this week, ahead of the July 4 holiday.

Europe’s high grade market finally found a solid footing on Thursday after days of scrabbling for purchase, with the biggest trades of the day landing flat or through fair value.

Poland has become the first CEEMEA country outside the eurozone to sell a bond with a negative yield since the onset of the coronavirus pandemic.

National Grid Electricity Transmission, the UK power transmission company, was out with a dual tranche trade on Thursday, including the first test of the conventional sterling benchmark market in more than a month.

Bayer, the German life sciences company, enjoyed blow-out demand for its €6bn multi-tranche bond issue on Wednesday, days after agreeing to pay up to $10.9bn to settle a lawsuit over claims its weedkiller, Roundup, causes cancer.