Goldman Sachs

Shares of Engie, the power and gas company, traded solidly on Wednesday and Thursday after the French government's block trade in the stock on Tuesday night won strong demand, enabling the lead managers to increase it by 10% and price above the bottom of the marketed range.

Export Development Canada showed on Wednesday that despite some big deals this year in fives, there is still plenty of demand in the three year part of the dollar curve as it took the rare step of increasing a deal from its initial size target. The trade came as a trio of other dollar deals hit screens.

Agence Française de Développement made its 2017 debut with a €1.5bn five year on Wednesday, but longer dated euro deals seem to be struggling as European Investment Bank found with a April 2032 tap.

With most senior bankers and investors now back from holidays, equity capital markets in EMEA have burst into life this week, with the launch of two large capital increases and a sizeable state block trade in Engie.

Shares in Banco Comercial Português, the Portuguese bank, have fallen 21% since it unveiled plans late on Monday for a €1.33bn rights issue to strengthen its core tier one capital ratio and finance the redemption of contingent convertible bonds owned by the Portuguese government.

Public sector borrowers tore $10bn of funding from the dollar market on Tuesday, shaving several basis points from initial price thoughts in the process. Only one benchmark is on screens for Wednesday, but SSA bankers expect next week’s run-up to the inauguration of Donald Trump as US president on January 20 will be — in Trump terminology — “huge”.

The treasury team at BASF, the German chemicals producer, kept up a high level of capital markets activity on Tuesday as it targeted a debut transaction in the Eurodollar market.

Arle Capital Partners has sold its remaining stake in Technogym, the Italian fitness equipment maker founded by Nerio Alessandri, for €100m, through an accelerated bookbuild that was covered in half an hour.

After spending 2016 away from the high yield market, UK premium car maker Jaguar Land Rover returned on Tuesday to add euros to its all sterling and dollar debt.

Property developer China Jinmao Holdings Group is marketing a dollar-denominated subordinated bond — its first hybrid offering.

Tuesday’s dollar market is set to be packed to the rafters, with a quartet of issuers out with trades and most of the focus at the five year part of the curve.

China’s Jilin Jiutai Rural Commercial Bank has bagged HK$3.0bn ($386.9m) after pricing its IPO near the bottom of guidance.