Deutsche Bank

Yankee banks returned to the dollar fray with opportunistic trades from Barclays and Westpac, with the UK bank mirroring a recent trend in euro deals by printing a long dated bond.

Kazakhstan Temir Zholy (KTZ), the state rail company of Kazakhstan, mandated banks on Wednesday to arrange investor meetings in Switzerland and Kazakhstan ahead of a possible debut Swiss franc deal. No Kazakh issuer has ever sold Swiss franc denominated debt.

Sovereign, supranational and agency issuers have been basking in the heat of rampant investor demand this week, as deals from the eurozone core to the periphery have drawn blowout books at super tight spreads. Such has been the demand that borrowers of all stripes have been able to pick their choice of currency and tenor at leisure.

Robert Wartchow is due to join Credit Suisse in mid-August in a new role originating and executing loan and high yield transactions, as the Swiss house seeks to meet the demands of Europe’s fast-growing leveraged finance market.

The Republic of Korea will meet investors next week and the week after for a proposed dollar deal, in what is set to be a record year for sovereign bond issuance in the region.

Swedish steelmaker Ovako today began roadshowing a €285m high yield bond, only two days after announcing it had entered negotiations to bid for the assets of bankrupt French counterpart Ascometal.

The senior market experienced an explosion of activity on Tuesday following a quiet opening to the week, with three issuers taking to the belly of the curve to sell euro denominated deals. The five year area of the curve is expected to see more activity later in the week, as investors abandon the short end in search of yield.

Maoye International Holdings priced its debut dollar bond on Monday, its third attempt to sell an international deal. With the right timing and careful guidance by dealers, the bond crossed the line with orders of $1.1bn for the $300m offering.

China Shanshui Cement has made its debut in the syndication market, launching into general a $300m three year facility for its refinancing needs.

Meg 1, a German offshore wind farm project, is moving forward with its €1.3bn project and has approached banks for debt - even though the project's sponsor filed for and then abandoned an insolvency procedure earlier this year.

Montenegro has released price guidance for its new euro denominated five year bond at high 5%, which bankers away from the deal called "fair to generous". A minimum yield of 5.5% was set for the new issue last week.

Croatia has mandated Deutsche Bank, JP Morgan, Société Générale and Banca IMI to arrange a euro dominated bond.