HSBC

Buyers of sterling high yield bonds were set to show what they make of the June 8 elections in the UK, and the country's economic landscape on Tuesday, as online grocer Ocado priced the first all-round domestic deal since the vote.

HSBC has hired Rob Ritchie as co-head of global banking, UK.

A trio of euro borrowers launched trades and a fourth picked banks on Tuesday in a market buoyed by a perceived renewal of European political unity following welcome results in elections in France and Italy at the weekend.

The IPO of ALD, the car leasing division of Société Générale, is covered at its maximum size including the greenshoe, ahead of the end of the bookbuild on Thursday.

On Monday night, NLFI, the organisation that manages the investments of the Netherlands, completed the sale of another chunk of its stake in ASR Nederland, the insurer nationalised during the financial crisis.

Afreximbank had taken books of $2bn for its new seven year note on Tuesday morning as the bid for African credit gathered pace.

Bond investors shrugged off state-owned oil company Petroperu’s low credit quality to pile into its debut deal in remarkable fashion as the issuer sold 15 and 30 year bonds at a tighter spread to the sovereign than its Mexican counterpart Pemex.

Russian supply is trickling through after Tinkoff Bank placed the sole deal from the region last week with Vimpelcom taking books on Tuesday of over $3bn at for a dual tranche offering, and Eurochem back for a another bite of the capital markets cash.

Astra Sedaya Finance (ASF) has doubled the size of its offshore loan to $300m on the back of demand from 14 banks during general syndication.

Bank Nederlandse Gemeenten slam-dunked a single day euro execution on Monday into a market buzzing from a pair of eurozone election results over the weekend. Another two issuers have lined up euro deals — including one debut.

Compass Group, the UK food service company, has hired banks for a potential euro or sterling bond issue, though some investors have doubts as to whether the sterling credit market can shrug off the uncertainties of UK politics.

Tennet, the Dutch electricity grid company, brought a €1bn dual tranche green bond issue today that was oversubscribed, but by less than has been common, suggesting that demand for corporate bonds may be cooling.