JP Morgan

The Inter-American Development Bank and the State of North Rhine-Westphalia only managed to raise small sizes in the sterling market on Tuesday, with the leads on the latter declining to comment on whether the deal was fully subscribed.

Greece and the Province of Québec won strong books in the euro public sector bond market on Tuesday, with the latter returning to the currency for the first time since June 2018. An attractive basis swap for dollar funders to issue in euros has tempted the International Development Association (IDA) out on screens for its first euro benchmark.

Public sector borrowers enjoyed healthy subscription levels and minimal new issue concessions in the five year part of the curve as they returned to the dollar bond market following the Golden Week break in China.

LBBW and JP Morgan have claimed first execution of an electronically negotiated euro short-term rate (€STR) swap transaction, on Bloomberg’s UK multilateral trading facility (BMTF).

Italy is out with initial price thoughts for its first dollar bond since 2010 as it aims to rebuild its curve in the currency. The sovereign is taking indications of interest for five, 10 and 30 year maturities, ahead of an expected launch on Wednesday.

Deutsche Bahn is hitting the tracks for a dual tranche hybrid trade, with the railway company due to meet investors from Wednesday.

Health and Happiness International Holdings, a China-based supplier of paediatric nutritional and baby care products, has returned to the loan market for a multi-tranche transaction.

The torrent of ESG supply shows no sign of slowing. Inter-American Development Bank’s debut sustainable development bond is set to come to market on Tuesday in sterling, alongside a sustainability bond from Bank Nederlandse Gemeenten.

Greece has appointed a syndicate to lead a tap of the 10 year bond it issued earlier this year, in what will be its fourth public transaction of 2019. The trade will be joined in the market by a new 10 year euro benchmark from the Province of Québec.

Three public sector borrowers announced dollar benchmarks on Monday, rekindling the market after a quiet week.

Raiffeisenlandesbank Niederösterreich-Wien (RLB Noe Wien) is looking to raise new senior unsecured funding, as bankers begin predicting a quieter period for supply in the euro market.

Italy is holding investor calls on Monday ahead of a planned multi-tranche global dollar benchmark, in what will be its first syndicated bond in the currency for almost a decade. The sovereign has been preparing its return to the public dollar market for a number of years and its plans were first reported by GlobalCapital.