JP Morgan

US corporate bond bankers have shrugged off concerns that the steepening of the US Treasury curve could spell problems for credit, after the 10 year yield closed at 1.29% on Wednesday and the 30 year broke though 2%.

Rating: Baa1/BBB/BBB-

This week was the busiest of the year so far for bank senior supply in euros, as issuers took advantage of strong market conditions after posting full year results.

Intesa Sanpaolo launched a long awaited debut senior non-preferred deal on Wednesday. After having announced a large non-preferred funding programme last year, the bank has reduced its funding needs thanks to regulatory changes.

Rabobank found good demand for a 12 year senior bond in the euro market this week, as it took advantage of rise in rates to land at a record tight spread.

National Bank of Kuwait, the country's largest lender, was set to raise an additional tier one (AT1) bond on Thursday as FIG issuers across the Gulf take advantage of good credit conditions. More subordinated funding from the region's banks is expected in the coming weeks.

Chinese delivery company SF Express Co is seeking an up to HK$24bn ($3bn) loan for its acquisition of Kerry Logistics Network, signalling the start of a revival in fundraising for event-driven situations. Pan Yue reports.

South Korean e-commerce firm Coupang is set for a multi-billion-dollar New York IPO — the first US listing from the country for a decade. The deal structure could appeal to other Korean start-ups, bankers said this week. Jonathan Breen reports.

Macrotech Developers, an Indian real estate company that was called Lodha Developers until mid-2019, has revived plans for a listing under its new name, three years after its last attempt at an IPO.

Charlie Jacobs, senior partner and chairman at law firm Linklaters, is set to become co-head of UK investment banking at JP Morgan.

CPPIB Capital made a strong return to the 10 year part of the euro curve on Wednesday, with a book over two times covered and a new issue premium of just 1bp. Bremen also hit the euro market, selling €500m of 30 year paper through its curve.

Sage Group, the UK business software company, is expected to bring a 10 year sterling trade on Thursday, as syndicate bankers say the dribble of deals seen this week looks like it will be the standard for the rest of the month.