Deutsche Bank

The Argentine province of Salta will meet bond investors this week as it looks to become the latest in a line of sub-sovereigns from the country to offer international bonds.

Investors’ thirst for stock in Dassault Aviation, the maker of Mirage and Rafale fighter jets, was evident last March when Airbus sold €1.76bn of it in a block trade. It was clear again on Thursday night when Airbus launched a two-pronged monetisation of its entire remaining 23.6% stake.

Basic-Fit, the low cost gym group, made its debut on Euronext Amsterdam on Friday morning, after an IPO that was priced towards the bottom end of its range on Wednesday.

The IPO of ASR Nederland, the second biggest this year in Europe after that of Dong Energy, reached a successful conclusion one day later than Dong’s, when the stock rose 2.6% on its first day of trading on Friday.

French glass packaging maker Verallia plans to sell the second largest single-B rated tranche of the year on Monday, after a pumping week of high yield issuance.

The senior phase of a $405m loan for Blackstone’s acquisition of Indian fintech firm Mphasis has closed, with three new lenders coming in.

Samvardhana Motherson Automotive Systems Group finally broke India's high yield silence, printing the first trade in over a year. Market participants expect the success of the deal to encourage more Indian HY names to sell bonds the second half of the year.

Block trade activity built steadily in intensity this week, reaching a crescendo on Thursday evening with a burst of deals including Airbus’s exit from Dassault Aviation. Also out on Thursday were Apax’s clean-up of Auto Trader shares and a block of shares in Spanish property company Colonial. Deutsche Bank was on almost every deal.

The response to some of this week’s dollar deals has got some bankers believing that next week’s US Federal Reserve meeting might not prove to be the market shutting millstone that it had promised to be just a few weeks ago.

The Irish telecommunications firm Eircom Holdings on Tuesday issued a benchmark size secured bond 25bp inside guidance levels — giving heart to issuers that would rather not wait for the UK referendum result.

Amid a hail of equity capital markets deals on Thursday evening, Airbus launched a €2.1bn sale of all its remaining shares in Dassault Aviation, using a €1bn exchangeable bond and block trade of about €800m. That came after Valeo had sold a $450m equity-neutral convertible earlier in the day, and as two other block trades were in the market.

NordLB’s Luxembourg subsidiary issued its longest maturity covered bond on Tuesday and paid a paltry premium, but the double digit pick-up failed to draw much excess demand.