HSBC

Canaccord Genuity has hired an experienced ECM banker to be its head of UK and European equity capital markets.

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 belly of the curve appears to be the favoured spot in euros, with the European Financial Stability Facility selling a €3bn November 2022 and Agence Française de Développement announcing that it intends to bring an April 2022 on Wednesday. Further out in the curve, the market is proving less supportive.

Portugal will kick off its funding year with a 10 year euro benchmark, mandating for the deal on Tuesday shortly after announcing its bond issuance target for 2017.

Gulf International Bank kicked off investor meetings this week for what could be the first publicly syndicated bond from the Middle East this year.

Indian oil producer Bharat PetroResources (BPRL) and Hong Kong’s New World Development Company have announced their respective bond offerings after wrapping up roadshows on Monday.

KommuneKredit and Unédic have both pulled off strong trades, getting in ahead of what is expected to be a busy week in euros by coming to market on Monday.

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.

Following a non-deal roadshow in December, Italian electricity and gas distributor Enel sold investors a €1.25bn seven year deal on Monday as it made its debut in the green bond market.

The European high yield market on Monday fired its opening shot of 2017 with a deal from TalkTalk. The UK telecoms provider is seeking £300m of five year non-call two senior unsecured notes.

Investor Access, a platform which allows investors to submit orders for a new bond issue directly into the order book was deployed for the first time last week on a Commonwealth Bank of Australia sterling covered bond. Now work is underway to convince more dealers of the initiative’s worth.

Four corporates from Greater China announced their respective plans to sell bonds on Monday, setting the stage for a potentially busy week of primary issuance in Asia.