Europe

In September, a number of issuers have returned to the European corporate bond markets after a number of years without issuing. On Wednesday, German chemicals distributor, Brenntag, Australian property company Goodman, and Austrian steel company, Voestalpine, were the latest to join that list.

Investec is the latest small issuer to mandate for an additional tier one (AT1) bond, having announced a roadshow ahead of a minimum £200m deal.

IHS Markit issued series 28 of the iTraxx Europe indices on Wednesday, including UK and Swiss banks at the holding company level for the first time.

PKO Bank Hipoteczny extended its covered bond curve this week with a deal that was more widely distributed and attracted more demand than any of its previous deals.

Slovenia has set final terms on a €700m combined tap of its 2027 and 2040 notes, with leads expecting the trade to have wrapped up by early afternoon on Wednesday.

Another elusive name was traded in the equity blocks market on Tuesday night, when Aeroflot Russian Airlines, Russia’s national carrier, came to market to sell 53.7m treasury shares worth Rb9.8bn ($169m).

Corporate bond investors seem to be happy with what they deem the sensible pace of new issuance so far in September. And they are keen for it to continue.

Corporate issuer debuts and long awaited sovereign market returns have given emerging market investors an array of trades to look at this week, surprising some who thought they were in for little more than watching the US Federal Open Markets Committee meeting on Wednesday.

EMEA's equity block trades market is keeping up its fierce pace this week, after last week notched up the highest tally of sales this year, at €5.5bn.

Trade between Russia and China has slowed over the last few years, hurt by a depreciating renminbi and domestic economic challenges in both countries. But the trend has now largely reversed — and dealmaking between the two countries is booming.

Oesterreichische Kontrollbank has made a triumphant return to euros on Tuesday as it printed in the currency following a more than eight year absence. Elsewhere, Nederlandse Waterschapsbank sold a small long dated euro tap — a tactic SSA bankers expect to see more of.

Deutsche Bahn is soft-sounding investors about a lengthy Kangaroo bond, with an eye on Australian and Asian buyers.