Commerzbank

Crossover credits ArcelorMittal and Fiat took advantage of a strong market to sell five and seven year euro benchmark bonds on Tuesday.

RCI Banque, once a frequent issuer of declining credit quality whose bond issues aroused little excitement among investors, returned to the market today after a 10 month absence and was greeted like a long lost friend.

ArcelorMittal raised €750m of five year notes today, in its first bond issue since announcing the call of its hybrid bond in January.

CEE sovereign issuers are standing firm this week, boldly pressing on with their bond issuance plans despite President Vladimir Putin's draft bill approving Russia's annexing of Crimea and the sanctions imposed on Russia by the US and the EU.

Olam International, which is the target of a proposed acquisition by Singapore’s Temasek Holdings, is expected to launch its $1.2bn fundraising into syndication on the week of March 24.

Investors in long dated senior unsecured debt appeared to have abandoned their yield targets this week, sending coupons below 3% on a Banque Fédérative du Crédit Mutuel fixed rate transaction, amid one of the busiest weeks of activity in the senior unsecured financials market this year.

CNH Industrial has sold its first bond since the merger of Fiat Industrial and CNH Global, raising €1bn and attracting a €3.5bn book from over 280 accounts before reconciliation.

A group of 15 banks are tipped to win the mandate for the new loan for agricultural products supplier Olam International, which is expected to be launched at a size of $1.2bn.

Any doubt over the enthusiasm for senior euro denominated bank debt on Monday, when a short selloff was followed by three successful pricings, was entirely dispelled by Tuesday morning, with three more senior deals hitting the market and meeting big demand off the bat.

The senior unsecured market started with a bang on Monday, despite the European market softening late on Friday.

A group of 15 banks are tipped to win the mandate for the new loan for agricultural products supplier Olam International, which is expected to launch at $1.2bn.

HeidelbergCement launched a drive-by high yield bond on Wednesday to a very strong reception from investors.