HSBC

Europe’s investment grade corporate bond market is lining up more mandates, with German companies making up the bulk of new deals announced on Tuesday.

Eni, the Italian oil and gas company, got blowout demand for its debut hybrid capital issue on Tuesday, as yield-hungry investors pumped about €14bn of orders into the dual tranche trade.

Société du Grand Paris plans to steam ahead with funding as it announced a doubling of its green EMTN programme and a substantial increase to its 2020 funding programme to help prefund the financing for the next three years of the Grand Paris Express project.

Rolls-Royce started marketing the bond leg of a multi-product recapitalisation and refinancing package on Monday, preparing an offering of more than £1bn-equivalent across three currencies.

Just Group is hoping to strengthen its capital position by issuing a debut green bond in tier two format this week, while also buying back some of its existing tier three notes.

Indian conglomerate Reliance Industries has made a quick return to the loan market, raising a $1bn facility to refinance a bond maturing later this month.

Kering, the French luxury goods giant, has offloaded a €687m chunk of its stake in German sportswear company Puma, via an accelerated bookbuild.

International SOS, a Singapore-based emergency medical assistance provider, is making its debut in the syndicated loan market for $320m.

Risk appetite has returned to the high grade corporate bond market, with UK airport Heathrow and US drinks firm PepsiCo managing to move spreads by around 45bp during execution.

A trio of firsts are coming to the high grade corporate bond market this week, with a debut hybrid from Italian oil and gas firm Eni, a green first for French chemicals company Arkema and a postponed entry to the Eurobond market for Danish pharmaceutical firm Lundbeck.

Green, social and sustainable issuance has dominated the supranational and agency bond market for a whole month, consistently outpacing conventional supply. That trend looks set to continue with three SRI deals already on screens.

Brookfield Asset Management is readying the IPO of its Indian real estate investment trust, which could raise up to Rp38bn ($519m) in primary proceeds.