Deutsche Bank

A fourth issuer of the week has broken its record for longest dated syndication ever, while the European Financial Stability Facility wrapped up its 2016 needs with a trade that looked almost short end by comparison to the rest of the week’s euro supply.

The public sector market is making the most of what may be the year’s last attractive opportunity for benchmark issuance ahead of a risk laden November.

China has made progress in liberalising its capital account this year, but the moves have yet to win over US-based investors, Luke Oliver, head of exchange-traded funds (ETF) capital markets at Deutsche Asset Management (DAM) told GlobalRMB.

The European Bank for Reconstruction and Development is set to test the five year part of the dollar curve — a tenor not attempted by many issuers over the last few weeks — as a French issuer opted for the tried and tested three year maturity and a German agency was able to increase a deal at that tenor from its target size.

ConvaTec, the UK medical technology company, has priced a jumbo £1.7bn ($2.1bn) initial public offering at the bottom of its initial range.

Spain’s real estate investment trust Merlin Properties on Tuesday sold its second issue in a market where most eyes turned to Danone’s €6.2bn jumbo deal.

The recent rise in yields has provided covered bond borrowers from the most expensive jurisdictions like Germany an opportunity to diversify away from the overpopulated 10 year. DG Hyp was the latest issuer to take advantage of this development with its €500m long eight year which was issued on Tuesday.

Indonesian property developer Lippo Karawaci excited investors on Monday with its roll out of a longer tenor, high yield bond.

Enterprise Inn, the UK pub group, on Monday began marketing a new sterling refinancing offering amid growing instability in the market after Daisy, the UK telecom services supplier, pulled its deal last Friday.

Indonesian property developer Lippo Karawaci is continuing its efforts to push out its debt maturity profile with a new 10 non call five bond.

Barcelona-based real estate company Inmobiliaria Colonial on Friday sold its new eight year bond to repay the four year tranche of its debut bond maturing in 2019.

In a troubled new issue market strewn with casualties, the $1.8bn-plus IPO of ConvaTec, the UK medical supplies maker, got covered at its base size on Tuesday, while Misys, the London-based banking software producer, opened the books for its £650m-£750m IPO with a lower free float than initially planned.