Citi

A conveyor belt of dollar benchmarks from SSAs passed quality control this week despite tough background conditions. But there are signs issuers are following those in euros by boosting concessions.

Debt bankers are pinning their hopes on the Middle East to get fourth quarter bond supply off to a strong start, after a torrid final two weeks of September.

World Bank on Wednesday sold the largest dollar benchmark from an SSA since July, as other issuers lined up deals in the currency.

Turkcell will add to a busy September of funding by signing up to €1.25bn of loans with the China Development Bank in the next few days.

China Reinsurance is slated to start gauging demand for its $2bn Hong Kong IPO on October 5, with books set to open a week later, according to a banker working on the transaction.

The increasing attractiveness of euros over dollars has led one public sector borrower to mandate for its first ever benchmark in the currency — and more debut issuers could follow.

A supranational has mandated for a dual tranche dollar benchmark, amid signs that issuers are willing to pay up to get size. But Sweden took a different route, pricing a $1bn deal arguably through its curve.

Larsen & Toubro Infotech, the information technology services unit of Indian conglomerate Larsen & Toubro, plans to raise $300m from an IPO of only secondary shares.

So far green bonds have dominated the still young ESG capital markets. But in the last 12 months a pair of issuers have brought bonds based on social themes in benchmark size. Tessa Wilkie reports on how we are about to see a lot more of them.

Poste Italiane, the Italian state-owned post office, launched on Monday the investor education phase of its long-awaited, mammoth-sized initial public offering in Milan.

A European sovereign will sell a short dated dollar benchmark on Tuesday, but a weak market backdrop and tight swap spreads are likely to hold other issuers back from bringing deals in the currency.

On Thursday, September 24, GlobalCapital held its 2015 Global Derivatives Dinner at Banking Hall in London and revealed the winners of its Global Derivatives Awards 2015.