JP Morgan

Italy’s first inflation-linked syndication in more than two years hit the market on Wednesday and raised €4bn from a book of €22bn, far outstripping the €6.4bn book for its previous linker sale.

Allied Irish Banks was met with a strong response for an additional tier one (AT1) in the euro market on Wednesday, just a month after its national peer Bank of Ireland had to pull a subordinated bond amid fears about the impact of the UK’s departure from the EU.

A pair of CEE corporates, Veon Holdings and NordGold, released initial price guidance for bonds on Tuesday, both offering paper after a break from international issuance.

Neoen, the French renewable energy company, returned to the capital markets on Wednesday, following its popular €697m IPO in October last year, with a debut €200m convertible bond due in 2024.

The European Investment Bank hit screens with a $1bn no-grow global 10 year Climate Awareness Bond on Tuesday. The issuer has not printed a 10 year dollar benchmark since May 2017.

Wind Hellas, the Greek telecoms firm owned by GoldenTree and Cyrus Capital Partners, announced a new €500m 2024 bond on Tuesday to push out its maturities and lock in cash, ahead of Greece’s 5G auction. The deal}s terms allow Wind Hellas to pay a special dividend after selling its mobile phone towers.

Hannover Re has added to a string of recent new issuance from European insurers, opting for an unusual maturity structure for its tier two this week.

Sovcombank printed a tier two bond on Monday at the wide end of guidance and the lowest end of the expected size range, which an investor said was a sign that the deal was “struggling” over the line. But a lead manager on the note pointed to healthy trading on Tuesday and its debut status and said that the issuer had simply taken sensible decisions after an in-depth price discovery process.

Virgin Media launched a refinancing of its $3.4bn senior secured term loan B, with a combined offering across sterling bonds, and euro and dollar loans. The move comes two weeks after Swiss telco Salt proved that bonds could price meaningfully tighter than leveraged loans for the right issuer, and Virgin also saw a strong result.

Kernel, a Ukrainian agriculture company, has returned to the international bond market for the first time in two years, defying the political turmoil developing in Ukraine.

Sovcombank was in the market on Monday morning with a subordinated bond, just 10 days after the issuer’s credit rating was upgraded by two major ratings agencies.

Hipgnosis Songs Fund Ltd, the London-listed fund that invests in music catalogues, has launched its £300m share sale to finance the acquisition of more music intellectual property rights.