Citi

Delhi International Airport (Dial) attracted a strongly oversubscribed book for its international bond market debut. The $288.75m seven year bullet was more than 17 times covered and traded up on January 21.

Indonesia industrials are returning to the dollar bond market, with MAXpower Group and Tower Bersama Infrastructure readying new deals.

A strong reception to a 10 year Eurobond from Tunisia this week — its first conventional bond since the Arab Spring — marks a large step towards Tunisia’s political and economic rehabilitation, said emerging markets bankers.

Delhi International Airport (Dial) attracted a strongly oversubscribed book for its debut in the international bond market. The $288.75m seven year bullet was more than 17 times covered and traded up on Wednesday.

Italian oil and gas company Eni shrugged off any concerns around falling oil prices to issue a €1bn 11 year bond on Tuesday that was five times oversubscribed.

Carrefour, the French supermarket chain, found strong investor demand for a €750m 10.3 year bond on Tuesday, when it became one of the first European companies to issue bonds after anti-austerity party Syriza’s victory in the Greek general election on Sunday.

M&A deals driven by pharmaceutical companies betting on the prospects of late pipeline assets, such as Shire’s recent deal, look set to be a recurrent theme in 2015. Other M&A drivers will be small to medium size transactions in Europe and aggressive activity from US companies, say Moody's credit analysts.

Republic of Tunisia made its standalone return to the capital markets on Tuesday with its first non-agency guaranteed bond since the Arab Spring.

There is some overdue activity taking place in the Asia ex Japan high yield bond market with Delhi International Airport (Dial) sounding investors out for a seven year bullet on January 27. If successful, this could be the first major transaction for a sector that has been missing in action since the start of the year.

The UK is set to price a tap of its March 2058 inflation linked Gilt on Wednesday, while investors suggested that the case for a new type of inflation linked bond is growing stronger.

Vakifbank has released price guidance for the first ever Basel III compliant tier two trade from Turkey at 7% area. Bankers are expecting tightening as the deal offers 120bp-140bp over the trading of the bank’s old style tier two 2022s.

Indonesia industrials are returning to the dollar bond market with MAXpower Group and Tower Bersama Infrastructure readying new deals.