Europe

Ukraine made a barnstorming return to the international bond market this week and extended its curve to 15 years, though the new deal has slipped below reoffer in the secondary market.

Turkish banks are continuing to attract international lenders to their loan financings. Several deals this year have had dozens of arrangers.

Commonwealth Bank of Australia subsidiary, ASB Finance, has mandated leads for a roadshow to market its first covered bond of the year and the third from a New Zealand issuer.

Gatwick Airport brought the second sterling investment grade corporate bond of the week on Thursday, following Pennon’s £300m hybrid on Monday.

Nationale-Nederlanden (NN Bank) has mandated leads to market its first covered bond, which will have an intermediate conditional pass-through maturity.

Spanish gas distribution company, NorteGas Energía Distribución, was the only investment grade corporate bond issuer in the euro market on Thursday. Its debut deal was a €1.3bn five year and 10 year dual tranche offering.

de Volksbank was looking to open a benchmark euro curve with a new senior deal on Thursday, testing the market’s appetite for short dated bonds in fixed rate format.

Societe Generale has hired Francisco Sottomayor as its head of global markets for Spain and Portugal.

The Cover's 11th annual covered bond awards took place this year at Casa Llotja de Mar in Barcelona on Thursday, September 14. The awards reflected the judgment of more than 600 market participants, including over 300 investors, who reported buying €150bn covered bonds in the past 12 months.

German Asklepios Kliniken launched a €300m triple tranche Schuldschein on Wednesday, with pricing that could tempt a wide variety of lenders.

L-Bank has snuck in at the last possible moment before the end of a crucial US Federal Reserve meeting to raise $500m with a comfortably oversubscribed floater.

The German pharmaceutical company, Stada, and the UK housebuilder, Miller Homes, both complete their high yield bond roadshows on Wednesday with the deals expected to follow before the end of the week.