ING

It was a busy week for ING’s funding team, as they kicked off the quarter by issuing euro-denominated notes on Monday and a series of dollar bonds on Tuesday.

Sovereign, supranational and agency (SSA) issuers burst into the second quarter with a scorching week that saw plenty of big books and minimal or negative premiums.

Two renewable energy companies achieved successful euro bond issues on Thursday. Norsk Hydro, the Norwegian aluminium and renewable energy firm, and ERG, the Italian wind energy group, issuing in green format, both tightened their prices and finished with plenty of over-subscription in their books.

Following the success of the first Spanish public sector green bond, the market’s attention has turned to the highly anticipated debut green bond from the Spanish sovereign.

The European Investment Bank and Flemish Community brought sustainability-linked transactions on Thursday, with investors piling in despite a busy market elsewhere.

Mauritius Commercial Bank has raised a new dual tranche $800m loan after receiving commitments of over $1bn. The deal was welcomed by bankers as one of the few new money financings in the market.

The European Financial Stability Facility and Council of Europe Development Bank left little on the table with their euro bond issues on Wednesday. More supply is expected, as three more borrowers have picked banks for deals expected this week.

ABB, the Swiss-Swedish machinery maker, issued an unusual bond on Tuesday: an 18 month floating rate note that grew as large as €1bn.

Elis, the French workwear and laundry group, took advantage of a corporate bond market eager for yieldy paper on Tuesday by issuing a €500m five year high yield bond that found a friendly reception.

Public sector borrowers were able to achieve zero or negative new issue premiums and close books early in the euro market on Tuesday as investors piled into haven assets amid a weaker outlook for global growth.

Otto, the family-owned German online and catalogue retailer, brought its first sustainable bond issue on Thursday. But despite it offering an interesting new flavour to green bond investors, the deal's sale produced an underwhelming result.

A trio of public sector borrowers hit screens with mandates on Monday ahead of what SSA bankers say will be a busy week of supply following a glut of benchmark issuance towards the end of the first quarter.