HSBC

European Central Bank’s limited options for hitting its €60bn/month public sector purchase programme target could be made easier as a new agency nears a debut deal.

Nationwide and Caixabank launched the only two covered bonds this week. Despite both issuers getting the funding they wanted, the final outcome was poor in comparison to past standards.

Emirates NBD issued a €550m seven year bond on Tuesday, a breakthrough for Middle East banks in the euro market. But bankers said they are uncertain whether other issuers will now follow.

AG Hybrid Financing, an international unit of Belgium insurer Ageas, is looking to tender its sole remaining perpetual subordinated bond, while Ageas's Belgian unit AG Insurance has mandated banks to arrange investor meetings for a Solvency II compliant bond.

Swiss toilet maker Geberit issued a €500m six year bond on Thursday, as part of the long term funding of its Skr1.29bn (Sfr1.21bn) acquisition of Finland’s Sanitec.

Armenia released price guidance for a 10 year dollar bond at 7.625% area on Thursday morning and the book size is already past the $500m target size.

Bulgaria was offering generous premiums on its triple tranche Eurobond on Thursday. But while bankers said pricing looks cheap, they questioned whether the 20 year tranche would sell well.

Cairo headquartered African Export-Import Bank (Afreximbank) has requested proposals for an international loan of around $500m, said bankers.

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AG Hybrid Financing, an international unit of Belgium insurer Ageas, is looking to tender its sole remaining perpetual subordinated bond, while Ageas's Belgian unit AG Insurance has mandated banks to arrange investor meetings for a Solvency II compliant bond.

Italian lender Intesa Sanpaolo, the second largest by assets in the country, closed its first Formosa deal on March 13, a 5.25% three year bond that raised Rmb425m ($67.9m).

BPCE made its debut in the offshore renminbi (CNH) market on March 18, pricing a 10 year non call five trade. The transaction meant the French lender joined a series of non-Chinese banks that have tapped the dim sum bond market to beef up their Basel III tier two capital buffer.