Goldman Sachs

A credit index trader at Société Générale in London, Gamal Selvarajah, has left the bank, GlobalCapital can confirm.

Rentenbank will tap a resurgent long end dollar market on Tuesday, alongside a rare appearance in the currency from the Canadian sovereign in fives and a French agency in threes. This is only the second time in nearly two and a half years that issuers have peppered the whole of the dollar curve on the same day.

UK telecoms group Virgin Media will begin marketing a jumbo loan this week, in a market that bankers describe as awash with demand. Many issuers are returning in search of tighter margins as soon as their loan terms allow.

The trend for corporate issuers in 2017 has been to sell bonds with longer tenors, but in among a five deal issuance spree on Monday was a couple of two year floating rate notes from rare issuers.

China’s Jianpu Technology has launched bookbuilding for its IPO on the New York Stock Exchange, which could raise $236.3m.

Dollar corporate bond supply kicked off November on a quiet note after the the Federal Reserve’s two day meeting kept borrowers on the sidelines following a frantic start to the week when spreads continued to tighten and cash poured into the high-grade market.

On Thursday night the French government sold a 4.7% stake in Renault, the car maker, via an accelerated bookbuild that was priced without any discount, thanks largely to its removal of an overhang. The stock leapt on Friday.

The Bank of England raised its base rate for the first time in more than 10 years on Thursday — but analysts described the move as a “dovish” and “pessimistic” hike. Gilt yields fell following the move, providing a potential boon for a UK Debt Management Office (DMO) syndication next week.

Investment boutique Green Ash became the newest player in the corporate high yield market this week, with its short dated speculative grade bond strategy set to include a large allocation to UK credit.

A trio of Chinese firms begun pursuing IPOs in the US this week that could raise more than $1bn between them.

China Huarong Asset Management Co priced an almost $3.4bn five tranche bond in two currencies on Tuesday, restarting supply from Chinese financial institutions after the sovereign repriced the curve last week.

China Jinmao Holdings Group priced its third perpetual bond of the year on Monday, raising $300m from a subordinated deal that will mainly be used to repay bank loans.