ING

Paccar Financial has become the latest in a string of US issuers that have tapped the euro market over the past two weeks. The financing arm of the US maker of trucks and trailers has raised €300m via the sale of new 0.125% notes due in March 2022.

The Netherlands' Sif Holding, which makes foundations for offshore platforms, has signed a €350m syndicated bank facility, adding green language to its loan documentation.

French electricals group Rexel launched a €600m high yield bond on Tuesday, looking to refinance its 3.5% 2023 notes. The strong demand for the new bond, against a backdrop of anaemic high yield supply in euros, meant the firm printed the new issue much tighter than the bond it replaces.

One of ING’s emerging markets syndicate bankers has left the bank, according to sources familiar with the matter.

Türk Telekom printed a $500m six year bond on Thursday at 7%, capping an extraordinary week in the CEEMEA bond markets. The company's outstanding paper had rallied following the release of initial price guidance for the bond, such was the demand for exposure to the credit.

Shriram Transport Finance Co raised $400m from first dollar bond on Wednesday, becoming the first Indian high yield borrower to tap the offshore market in just over a year.

ING Bank and Commonwealth Bank of Australia sold 10 year strong covered bond deals on Monday, creating a "virtuous circle" that should encourage more issuers to enter the market, according to one lead manager. But another cautioned that demand for long dated bonds was "frothy".

Rating: Baa1/BBB+/BBB

The theme in the euro public sector market this week was large book sizes despite issuers paying very little concession, with Finland, the European Investment Bank (EIB), Madrid and the Joint Länder all keeping close to their curves.

Here Technologies, the Dutch provider of mapping and location services, has signed a €500m credit facility. Some European loans bankers insist they are swamped with deals, even though they have just finished the quietest January for years.

All three public sector borrowers in the euro market on Tuesday received record order books, despite the spreads tightening by up to 5bp during pricing — which left little to no concessions for investors.

Sanoma, the Finnish learning and media company, has signed €550m of bank funding, some of it earmarked to fund its acquisition of Iddink, the Dutch educational platform and service provider.