Citi

Finnish technology company Nokia is set to become the first European company to issue a euro high yield bond for four weeks. Meanwhile, UK food producer Bakkavor will repay all its notes.

Bpifrance Financement became this week’s third French public sector issuer on Thursday, scoring €500m with a tap.

US pharma research firm Quintiles IMS Holdings printed on Thursday a new €1.4bn high yield bond, proving that European high yield investors are embracing the train of US issuers printing in euros.

Nederlandse Waterschapsbank is set to bring the five year part of the dollar curve back to life for the first time in three weeks, after mandating banks for a March 2022 Reg S/144A deal on Wednesday.

Mid Europa Partner’s syndicated loan, which will finance its purchase of Romanian supermarket chain Profi Rom Food, is set to be finalised by the end of the week according to a banker on the deal.

Korea Development Bank (KDB) has become the latest name from South Korea to join the debt issuance party, sealing a triple tranche offering with two floating rate tranches, and finding $4bn of demand for its deal.

A unit of Goldman Sachs raised Rp8.4bn ($125.2m) on Tuesday after selling down some of its stake in India’s Max Financial Services, taking advantage of a run-up in the stock.

Companies were able to tighten pricing on euro deals this week, as investors said they expected the corporate market to keep shrugging off the political headline risks in Europe that have prompted widening in some government bonds.

Asia DCM has seen a steady supply of South Korean issuers so far in 2017, with Korea Development Bank becoming the latest to venture out with dollar-denominated bonds.

Investors piled into a €1bn dual tranche transaction from telecoms company Ericsson on Monday even after the issuer dragged pricing in by around 35bp, in an execution that bankers say highlights how tough it has become for syndicates to derive fair value.

Confusion over two loans to Kenya, one of which was arranged by multilateral lender Trade and Development Bank (TDB), may have subsided as clarity over the structure of the deals emerged this week.

India’s market regulator has given the go ahead to IRB InvIT Fund’s IPO, making it the first infrastructure investment trust in the country to win approval to list. But IndiGrid and Reliance Infrastructure are hot on its heels.