Citi

European emerging market names have bulked up deal flow during the Covid-19 crisis and The Republic of North Macedonia continued that trend on Wednesday with a six year euro benchmark deal.

Firmenich, the Swiss fragrances company, reopened Europe’s corporate hybrid market on Wednesday, as similar deals lined up from companies including Dutch utility Tennet.

Alex Neumann has been named head of markets and securities services for Switzerland and Liechtenstein, the latest in a series of appointment at Citi’s markets franchise.

India’s Mu Sigma, a data analytics firm, has returned to the loan market for an up to $100m deal to refinance its debt.

BOC Aviation leveraged on its ties to its Chinese state-owned parent and its own standalone credentials to raise $750m on Tuesday. It proved that it has access to bond market liquidity at a time when companies focused on aircraft leasing have been hit by the Covid-19 pandemic.

Firmenich, a Swiss fragrance and flavour company, will this week become the first hybrid bond issuer since the coronavirus pandemic hit Europe, in a deal that will be closely watched by the market.

The New Development Bank is looking to take advantage of the strong demand in dollars by bringing its long-awaited inaugural trade in the currency as part of its response to the coronavirus pandemic.

The Republic of Estonia has mandated for a 10 year benchmark bond, as it prepares for its first foray into bond markets since 2002.

Banque Fédérative du Crédit Mutuel tested appetite on Tuesday for a 10 year non-preferred senior deal, with supply in the asset class having slowed to a near standstill during the coronavirus pandemic.

The Asian Infrastructure Investment Bank returned to the primary market for its second ever benchmark this week, raising $3bn close to fair value and debuting its new sustainable development bond branding.

European banks are expected to hit the dollar market in force over the coming weeks as they look to take advantage of an extended rally in spreads.

Pfizer was at its opportunistic best this week as it issued $4bn of notes that included the lowest ever coupon on a corporate five year bond.