Currencies

Cassa Depositi e Prestiti has sold €300m and €150m notes late in February, despite dealers reporting an overall lack of MTNs in the market.

US car rental company Avis Budget Group called in on European investors on Wednesday with a refinancing that extended a busy pipeline of reverse Yankee high yield deals in euros.

Capital Intelligence Ratings (CI), which has a 35-year track record of rating banks in emerging markets, has joined forces with the European Covered Bond Council (ECBC) in a move that suggests the asset class is set to spread to new frontier regions.

Market participants have grown used to US president Donald Trump’s ability to shift markets and induce volatility with only 140 characters, but Tuesday’s address to Congress appears to have been digested without spoiling the mood in SSAs.

The European Investment Bank is set to tackle the seven year part of the euro curve on Wednesday, an area that has had no issuance from SSAs since early February.

Sustainability bonds are the flavour of the week for regional issuers, as the State of North Rhine-Westphalia smashed the size record for sub-sovereign SRI bonds on Tuesday and Île-de-France hit screens to announce its own socially responsible investment bond.

China Development Bank became the latest name to take advantage of a liquidity-abundant market, snapping up $3bn-equivalent from three floating rate tranches in two currencies — in one of the largest FRN trades out of Asia.

The State of North Rhine Westphalia will sell its third sustainability bond on Tuesday, following a pan-European roadshow.

Harvest Operations Corp said last Friday that it has completed a C$1bn ($763m) refinancing, comprising a new term loan and restructuring of an existing credit facility.

China Development Bank Corp is making a swift return to the debt market with a floating rate transaction split between three and five year dollar portions and a 2020 tranche denominated in Hong Kong dollars.

Korea National Oil Corp will host a global roadshow next week ahead of a new international bond, to be sold in dollars and/or euros.

The scores are in. See how market participants rated KfW's €5bn 10 year, Alberta's sterling debut and EAA's $1bn two year.