Citi

Abengoa, the Spanish construction and concessions company, has made a further step to capital markets rehabilitation, by issuing a $279m exchangeable bond, into shares of its affiliate Abengoa Yield.

Infineon, the German semiconductor manufacturer, has issued a €300m 3.5 year and €500m seven year bond to refinance a loan it obtained last year to fund its acquisition of International Rectifier.

Svenska Cellulosa Aktiebolaget, the Swedish paper, pulp and consumer goods manufacturer, issued €600m of five and 10 year bonds on Thursday.

Rating: B2/B-/B

Borrowers partied in dollars this week as a lack of supply and an attractive euro/dollar basis swap combined to allow them to print at attractive levels at the short end.

Spain brought a record breaking 15 year benchmark this week that may have helped drive other eurozone sovereign yields to all-time lows.

Ivory Coast paid a lower new issue premium than expected to re-open the sub-Saharan sovereign bond market this week, sparking debate on the implications for other African borrowers.

Lebanon sold its largest ever new money issue on Monday, printing an $800m 10 year and $1.4bn 15 year from combined books of $4.9bn.

Equity block trade bankers’ hearts may have leapt on reading Wednesday’s headline that AP Møller-Mærsk was planning to sell its 20.05% stake in Danske Bank, worth about €4.8bn at today’s share price.

LBBW and Westpac issued covered bonds in dollars this week, gaining superior funding to what could have been achieved in euros.

Svenska Cellulosa Aktiebolaget, the Swedish paper, pulp and consumer goods manufacturer, issued €600m of five and 10 year bonds on Thursday.

Cemex is on track to issue the first high yield corporate bond from Mexico this year and has returned to the market with a dual tranche euro and dollar offering.