Citi

KfW and Ireland brought euro deals on Wednesday at the very top end of size expectations, alleviating a little of the pressure on what is set to be an extremely busy year in the currency. The trades came the same day as Municipality Finance mandated for a euro benchmark and a request for proposals came from the European Financial Stability Facility.

Syndication of the acquisition financing loans for Lonza and Sibanye Gold is expected to begin soon, as loans bankers begin 2017 in an optimistic mood.

BMW formed part of the auto sector’s traditional charge from pole position into the first corners of the corporate bond market on Wednesday, beginning the new year with a dual tranche trade that paid single digit concessions.

Israel became the first emerging market sovereign to put down a marker in the bond market this year with the announcement of a European roadshow next week.

Likely faced with an assault course of volatility inducing events this year, emerging market issuers will be keen to raise cash early before Brexit/Trump/rate rises/European elections (delete as appropriate) come to blight the market.

Bank Nederlandse Gemeenten (BNG) launched the first SSA benchmark of 2017 on Tuesday. While the agency raised €1bn, its success was muted in comparison with the way it opened 2016.

Renault Credit International Banque, the finance subsidiary of Renault, became the first corporate bond issuer of 2017 on Tuesday, slipping through the year’s earliest possible window to issue in euros.

Loan facilities backing Mid Europa Partners’ acquisition of Romanian retail chain Profi Rom Food will go into general syndication this month, with a fifth bank joining the bookrunners and tranche prices having been indicated to ‘early bird’ lenders.

KommuneKredit and the Asian Development Bank (ADB) will reopen the dollar market for SSA borrowers on Wednesday. Meanwhile, the EIB is lining up to perform the same service in sterling bonds.

Syndication of Elysium Healthcare’s reduced £133m loan has run over into 2017 at investors’ requests, according to a banker on the deal, as the European leveraged loan market returns with expectations of a healthy New Year pipeline.

India’s two main stock exchanges are set to start 2017 on a positive note, with Bombay Stock Exchange (BSE) likely to launch a $200m deal this month and National Stock Exchange (NSE) bringing a jumbo $1bn IPO in the second quarter.

Allocations are out for a $150m three year loan for a subsidiary of Chinese electro-acoustic product maker Goertek, which gathered commitments from 10 banks during syndication.