Commerzbank

French sugar and alcohol producer Tereos on Wednesday sold a tap of its 2023 bond. It plans to use the offering’s proceeds to repay high cost bank credit facilities.

Rights of Informa, the UK business and academic publishing and events company, began trading separately from its shares this week. Both have traded down, but the ratio between the prices remains satisfactory.

Investment grade corporate issuers hit the euro bond markets in force on Tuesday with five primary transactions in play, but defensive deal sizes characterised the frantic flow.

The European Stability Mechanism (ESM) and the Société de Financement Local (SFIL) sold benchmark debt to an increasingly welcoming market for euro-denominated paper on Tuesday.

With one quarter left of 2016 to go and global issuance 22% down, the equity capital markets bookrunner race is going into its final straight. Familiar faces are leading the pack, but incumbents in general are having a tough year.

On Monday Spain's Ibercaja returned to the covered bond market for the first time since 2010 to issue the tightest Spanish deal this year. Although the book contained fewer orders than many Spanish covered bonds, the scale of excess demand was above average.

The Dutch lender has mandated leads for an ultra-long soft bullet covered bond which will follow a roadshow due to begin next week.

The return of vanilla senior issuance may be just around the corner, after FIG borrowers let the dust settle on last week’s Deutsche Bank-driven volatility.

The covered bond pipeline grew this week as Ibercaja and BNP Paribas Fortis mandated leads for roadshows and Nordea signalled it could be ready to return soon.

After a day of caution on Wednesday, when some issuers held back from the primary market after spates of volatility last week, unrated Air France-KLM timed its €400m deal right, showing that investors will still play for yield in higher risk names.

The Spanish bank has mandated leads for a roadshow to market what will be its first covered bond in six years.

After completing its first international bond issue earlier this year, Qatar’s Ahli Bank has also signed a $195m club loan — its second ever loan from international banks.