Deutsche Bank

On Wednesday, the same day as Total's debut convertible, came another inaugural deal, from Brenntag, the German chemicals distributor, which has a €7.7bn market cap — dwarfed by Total’s €113bn.

Coopération Pharmaceutique Française, the French pharmaceuticals distributor known as Cooper, has bank meetings scheduled on Wednesday for more than €350m of new debt for its leveraged buyout by Charterhouse.

The rampant demand in the convertible bond market, which has produced a run of deals at very attractive terms for issuers, brought two more borrowers into the market today (November 25) with debut deals, Total and Brenntag. But the deals’ execution suggested it might be time for a breather.

Scandic Hotels, the Nordic hotel operator that started taking orders for its IPO on November 17, has released a covered message to investors, a lead banker said on Wednesday.

OTE, the Hellenic Telecommunications Organisation, returned to the bond market on Tuesday with a €350m four year at a yield of just 4.625%, despite high yield bankers saying the mood in the market was still unstable.

Intel, the American technology company, raised $A800m in its debut Kangaroo deal on Tuesday afternoon, drawing strong demand from Asian investors.

Support from US fund managers helped Macedonia price a new sub-benchmark euro-denominated deal comfortably inside initial price thoughts on Tuesday despite rising geopolitical risk.

Allied Irish Banks will be going back to investors for more loss absorbing capital after mandating banks for a debut additional tier one issue, while the stellar performance of its recent tier two print reversed on Wednesday.

Allied Irish Banks is set to price one of the juiciest European financial institution bond issues of the year, after mandating banks for a debut additional tier one capital deal, just days after pricing a €750m tier two.

Standard & Poor’s has sent Deutsche Bank’s subordinated debt tumbling in secondary with a surprise move to slap it with a sub-investment grade rating.

SKF, the Swedish ball bearing maker, won a €2.2bn order book today (Tuesday) for a €500m no-grow bond, issued to partly fund a tender offer for older notes.

MasterCard, the US credit card payments company, raised €1.65bn on Monday with its first euro bonds - and only its third bond issue ever.