Citi

Investors proved their appetite for corporate bonds this week by gobbling €5bn of them on a single day, as Publicis Groupe and BMW issued jumbo deals on a second consecutive day of heavy issuance in Europe.

The World Bank has returned for its third Sonia-linked note, with the issuer taking indications of interest for a 3.5 year sterling benchmark trade.

Swedish Export Credit Corp has set the terms on a $650m December 2020 floating rate note, increasing the size of its trade amid sharp volatility in the US rates market on the prospect of dovish policy action from the Federal Reserve.

Magnitogorsk Iron and Steel Works (MMK), the second largest steel producer in Russia, released price guidance for a $500m five year bond on Wednesday at a level that one EM investor said looked “interesting”.

Warburg Pincus-backed logistics manager ESR Cayman opened books on Wednesday for what will be the biggest float in Hong Kong so far this year.

After 10 days of very scanty issuance and some weak markets, more stable conditions on Tuesday brought a salvo of five deals to the euro corporate bond market, offering a wide range of single-A and triple-B credits.

CDP Financial has set the price in line with initial price thoughts for its two year dollar benchmark, giving investors a new issue premium of around 4bp.

Investors are calculating the value of Airtel Africa, the African subsidiary of Indian telecoms conglomerate Bharti Airtel, as it is going ahead with a floatation on the London Stock Exchange (LSE).

Malaysian home improvement retailer Mr DIY Group could file a prospectus with Bursa Malaysia for its $500m IPO as early as the end of June, according to a source close to the potential deal.

Industrial and Commercial Bank of China (ICBC) hit two parts of the dollar curve on June 3, selling two tranches of floating rate notes worth $750m each.

CDP Financial is out with initial price thoughts on a two year fixed rate dollar benchmark trade, with syndicate bankers tipping this week to be busy for SSA issuers.

Adani Green Energy made its dollar market debut on Thursday, nabbing $500m with a green trade.