Citi

High grade bond investors had a plethora of trades to pick from on Wednesday, as corporate bankers say May is shaping up to be a breakneck month for issuance.

Even as sovereign restructuring and debt relief top the agenda for emerging markets bond buyers, investors are showing faith in the top names in the asset class. Tuesday was Chile’s turn; the sovereign breezed its way through two currencies, notching a negative new issue premium in dollars and becoming the first non-European sovereign to issue in euros since the Covid-19 crisis began.

Richard Aby has been made markets head for Central and Eastern Europe, the Middle East and Africa at Citi.

QBE sold $500m of additional tier one debt in the dollar market this week, as it sought to shield itself from the financial impact of the coronavirus pandemic.

Citi has promoted Prosenjit Saha as head of loan sales for Asia Pacific, a newly created position at the bank.

Citi has made two senior appointments to its corporate banking business in Asia Pacific.

Luxshare Precision, a Chinese designer of cable assemblies, has launched a $500m loan into syndication, hiking up the margin on offer due to changing market conditions caused by Covid-19.

The UK Debt Management Office has chosen the banks to lead what will be the first of an unprecedented two syndicated offerings in a single calendar month as it prepares to finance a substantial increase in its borrowing requirements.

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The European Investment Bank and the Region of Madrid stood out in the public sector bond market this week, with the former achieving its biggest ever order book for a euro benchmark.

Corporate bond bankers expect May to be a blockbuster month, as syndicate officials say that coronavirus pandemic fatigue has set in and the market has stopped worrying about it.

Signify, the Dutch lighting company, got roaring demand for its acquisition bridge takeout bond on Thursday — its maiden issue — as it tempted investors with an eye-catching initial spread.