Goldman Sachs

A smattering of smaller euro issuers made the most of an attractive window this week, as they looked to use the stable conditions to take “some risk off the table” ahead of the summer break.

Europe’s high grade corporate bond market had a patchy week of issuance, with borrowers dancing around the overhang from the US Federal Reserve meeting and Thursday’s Bank of England equivalent.

The Republic of Slovenia debuted in the sustainable bond market this week when it sold its third debt offering of the year. It is only a matter of time, bankers said, before sovereigns across central and eastern Europe embrace the ESG debt markets.

Snam, the Italian energy infrastructure company, managed only a tepid reaction from the market on Thursday with a 10 year transition bond, as highly rated names continue to find it tough to get full throated support at such tight levels.

Generali was in the market for a tier two bond with a sustainability label on Thursday, its first issue from its newly minted framework.

Hong Kong's CK Asset Holdings, previously known as Cheung Kong Property Holdings, marketed a dual tranche deal worth $600m on Wednesday.

The Republic of Slovenia was selling its third bond of the year on Wednesday — a debut sustainability offering. The sovereign, which many investors categorise alongside western European investment grade sovereigns, was set to price the deal tight.

LEG Immobilien, the German housing company, has mandated for its debut sustainability bond. Bond market participants expecting sizeable demand for it, despite the recent deluge of property deals.

China’s Full Truck Alliance (FTA), billed as an Uber-style service for trucks, has raised $1.56bn from its New York IPO. A wave of global demand pushed final pricing to the top of the guidance, said a banker close to the deal.

The Republic of Slovenia revealed the mandate for its debut sustainability bond on Monday, just months after it impressed market participants with a 60 year bond.

China’s Aihuishou International, an online marketplace for second-hand electronics, traded up over 20% on its debut on the New York Stock Exchange, after sealing its IPO at the mid-point of the marketed range.

A pair of globally systematically important banks (G-SIBs) made rare visits to niche bond markets to raise senior debt at a group level this week, including a Canadian dollar market that is enjoying its busiest year for offshore financials since 2007.