ING

Small cracks started to appear in the euro corporate bond market on Thursday, after a busy month, as companies launched a spate of deals. An already bulging pipeline means there will be little time for the market to catch its breath.

Former Deutsche Bank DCM head Miles Millard has joined ING as head of global capital markets Leo-Hendrik Greve left the job in September last year, and has now landed at boutique Bowline Capital Partners.

ING, which served as agent on a Schuldschein for the first time only five years ago, has carved out an impressive niche in the market, arranging nearly every green issue.

Budweiser Brewing Company Apac has revived its Hong Kong IPO two months after a headline-grabbing flop. But a smaller target size, a stamp of approval from a high-profile cornerstone investor and the off-loading of an unattractive chunk of its business all mean that the firm has a better chance of success this time around. Jonathan Breen reports.

Besides the rare offering of a Chinese issuer on Wednesday, when Jin Jiang International issued a €500m bond, euro corporate bond investors had to make do with two other deals, from Telenor and Mondelez.

Wells Fargo hasn't wasted time in the bond market this week. It launched a euro senior bond on Wednesday, a day after raising sterling debt. Concurrently, Spanish lender Kutxabank was marketing a senior non-preferred bond in euros, its debut in the format.

GlobalCapital has revealed the results of its Sustainable and Responsible Capital Markets Awards 2019. The Awards gave honours to three debut sovereign issuers: the Netherlands, Hong Kong and Chile, investment firm Amundi, and banks including Crédit Agricole, HSBC and ING.

A smaller deal size, a high-profile cornerstone investor and plenty of early engagement with investors have put Budweiser Brewing Company Apac’s second attempt at a Hong Kong IPO on solid ground.

UK coach operator National Express has entered the US private placement market, according to market sources, looking for £200m-equivalent, in dollars, euros and sterling.

Two UK airports set to sell US private placements - Market first as Northern Irish housing association seeks US PPs - Kernel set to secure yet another facility, as EBRD continues Ukrainian push - RMB Mauritius secures loan, months after dollar debt transfer

A pair of Eastern European corporate borrowers are in the market for dollar paper on Thursday, taking advantage of excellent market conditions to secure cheap funding.

Corporate bond issuance in euros was busy again on Tuesday, with four deals, but they were moderately sized, so the total was nothing like Monday's haul of €6bn and £1.25bn.