Citi

Siemens, the German machinery maker, found plenty of demand for a multi-tranche bond issue on Wednesday, though the inclusion of a two year fixed portion strongly suggests that floating rate notes have become unpopular among corporate issuers.

France received its biggest ever order book as it came to the market for a 20 year syndication on Tuesday. SSA bankers say that investors are looking for duration after previously sticking to defensive maturities as the Covid-19 crisis eases.

Citi was the sole bookrunner and underwriter on a Sfr2.55bn block trade in Sika, the Swiss chemicals company, sold by Saint-Gobain on Tuesday night — but the deal was not covered.

Aviva was set to raise £500m of tier two capital on Wednesday, fuelling speculation that the UK insurer would be looking to call one of its outstanding perpetual bonds.

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.