Deutsche Bank

Turkey priced a €1bn 12 year euro transaction almost flat to its secondary curve this week, although there was some disagreement about where the borrowers outstanding euro bonds were trading before the new launch. But bankers on the bond argued that a slim concession, strong oversubscription and an impressively granular book had made the deal a clear success.

Allied Irish Bank will sell its second senior unsecured benchmark since the crisis on Wednesday afternoon, a curve extending five year trade that has drawn a favourable response from investors.

Pakistan made an impressive return to the bond market on Tuesday night with a $2bn dual trancher that was well received by US investors though received a cooler reception from Asian accounts as the frontier economy ended a seven year exile from the capital markets.

A quiet first quarter of FIG issuance from Latin America has urged the region’s banks into a bond market that has delivered tightly priced bonds, said bankers. Santander Chile was the latest to benefit, selling a $500m three year FRN on Tuesday.

Chinese company Giant Investment, which is taking private online game developer Giant Interactive, has opened up its $850m leveraged buyout loan to the market, with a starting margin of 450bp over dollar Libor.

Vivendi has made up its mind — its French mobile phone unit SFR will go to Numericable, the highly leveraged cable operator, as it had always intended, and not to Bouygues, a grand French industrial company and investment grade borrower.

Greece’s return to the debt capital markets this week appears to have had little problem finding demand, with indications of interest on the new Reg S/144a April 2019 benchmark already in excess of €11bn on Wednesday afternoon.

Two banks are tipped to win the mandate for Indonesia Infrastructure Finance’s fundraising plans of $200m, according to bankers.

Dutch corporate services company Intertrust Group has allocated €837m-equivalent of loans in euros and dollars, but investors in the deal plumped for security - the first lien tranche drew stronger support than the second lien.

Investors are hunting Banca Popolare di Vicenza’s private placements, according to MTN dealers. Demand from overseas investors has increased since the success of its public deal in January.

French mortgage lender Caisse Centrale du Crédit Immobilier de France is set to sell its first government guaranteed benchmark on Tuesday afternoon, a five year bond.

Zambia’s new 10 year dollar bond was trading up in the secondary market on Tuesday after attracting $4.3bn in orders for its $1bn print. Debt bankers on the bond were surprised by the strong reception given Zambia’s financial difficulties, which bodes well for African borrowers with stronger credit metrics.