Deutsche Bank

Africa Finance Corp, the pan-African development finance institution, printed its first green bond on Monday.

Medtronic, the US medical devices company, garnered more than €19bn of demand for a €6.25bn six tranche bond issue on Thursday, including a sizeable oversubscription for the 30 year tranche, which some syndicate officials had said might be tough to place.

Swedish Export Credit Corporation took full advantage of the quiet SSA market to print a three year dollar benchmark on Wednesday. Ontario Teachers Finance Trust is set to follow on Thursday.

Australia’s fourth syndication of its financial year has set a new size record — the third time it has done so in as many months — but despite the wave of Australian govvie supply, demand still seems fierce.

Medtronic, the US medical devices company, has mandated banks for a multi-tranche euro bond at a time when European investors are demanding higher spread concessions from Reverse Yankee borrowers than local issuers.

The Australian Office of Financial Management (AOFM) has launched its fourth syndication of its 2020/21 year.

Financial institutions are waiting to see whether investors will step back into the credit market before attempting to bring new deals forward this week.

Spanish telecoms group MasMovil is preparing a €720m bond, the second part of the financing for its take-private by Cinven, KKR and Providence Private Equity. Most of the €2.9bn financing came through a loan issue, allocated in July, with the bonds readied following shareholder acceptance for the offer last week.

The Australian Office of Financial Management (AOFM) has announced that it will syndicate a new six year deal next week – marking the first time the sovereign has sold more than three syndications in a single fiscal year.

Ukrainian steel and mining company Metinvest was one of several emerging markets issuers to tap bond markets this week. The deal was several times oversubscribed, confirming that investors are still on the hunt for yield and are willing to look to single B rated emerging market credits for that.

Bond sales from Chinese issuers continued unabated on Thursday despite heavy supply in the first half of the week, with firms raising a combined $1.1bn from the debt market.

Delta Air Lines raised $6bn this week, joining the September stampede by companies to plug their bank accounts and lock in cheap funding.