JP Morgan

Italy and Belgium were the latest eurozone sovereigns to build their largest ever order books for syndicated bonds on Wednesday, with the former coming close to breaking the record demand from a eurozone issuer set by Spain on Tuesday.

The University of Oxford has reopened its sterling century bond, as bankers away from the deal called the yield available at that maturity "incredible".

A pair of Asian SSA issuers joined a busy dollar market on Wednesday, bringing three and 10 year deals. Demand for three year dollar paper is high, with two more issuers set to join the fray on Thursday.

Emerging markets telecommunications firm Veon, formerly Vimpelcom, printed a $300m tap of its $700m 4% April 2025s on Wednesday from a book of more than $1bn and paying a new issue premium of only 5bp, according to a syndicate official on the tap.

The overwhelming supply of international bonds from Asia continued on Tuesday, as issuers dashed to raise dollars, and in one case, sterling. But not every borrower was able to cross the finish line.

Future Retail threw open the door for India's retail shopping sector on Tuesday with its $500m debut bond, getting a solid book of $3bn for the transaction.

SMC Global Power Holdings Corp took advantage of an exceptionally bullish credit market, getting a peak order book of around $5bn for a $600m deal.

JP Morgan and MUFG have been appointed Everton FC’s financial advisers to arrange roughly £500m ($651m) of financing for the football club’s new stadium at Bramley-Moore Dock in Liverpool. One source close to the prospective deal told GlobalCapital “all options are on the table” regarding funding routes.

Spain and Cyprus attracted strong demand for their syndicated bonds on Tuesday, with the former receiving the largest ever order book for a public sector euro benchmark. Italy and Belgium will add to the eurozone sovereign supply on Wednesday after mandating leads for new 30 and 10 year trades, respectively.

Prosus, the Dutch-based consumer internet company spun off by Naspers in September, has launched a $1.25bn 10 year bond, days after it failed to convince shareholders in takeaway delivery group Just Eat to sell it the company.

KfW and Canada both launched dollar benchmarks on Wednesday, bringing a pair of highly subscribed and tight deals. Following their success, two Asian SSA issuers prepare to join the busy dollar market.

Europe’s primary equity-linked market has reopened, with a new €125m convertible bond from Pharming Group, the Dutch speciality pharmaceuticals company.