JP Morgan

Italian banks are taking advantage of excellent new issuance conditions, as investors re-establish their confidence in the country's new government. On Tuesday it was Banca Monte dei Paschi’s turn to do so with a euro-denominated preferred senior bond, one day after UniCredit and Intesa Sanpaolo.

Russian petrochemicals firm Sibur was able to print $500m of five year paper in its return to the bond market this week, brushing off news of a drone attack on Saudi oil infrastructure and a subsequent 10% jump in the oil price.

Shares in fertilizer miner Sirius Minerals plummeted as much as 60% on Tuesday morning after the company was forced to finally pull a $500m high yield bond offering it had postponed in August.

Most investment grade corporate bonds issued over the past weeks have had intermediate to longer tenors, but on Monday issuance tilted towards the shorter end, as GlaxoSmithKline printed two negative yielding tranches.

KfW and Bpifrance were the first public sector borrowers out of the blocks in euros following last Thursday’s European Central Bank meeting in which it unleashed its new comprehensive stimulus package.

Banco Sabadell and ASB Finance launched senior bonds in the euro market on Monday, with the former hitting the ‘sweet spot’ of investor appetite and the latter struggling to achieve the same level of demand as its Kiwi peer ANZ New Zealand had last week.

The blow to oil production in the Middle East seems to have boosted demand for Russian petrochemical giant Sibur's five year dollar benchmark on Monday — the issuer’s first bond in two years.

Chinese logistics company Best has sealed a $175m convertible bond, benefitting from a jumbo anchor order from Alibaba Group Holding.

Alpek, the petrochemicals business of Mexican conglomerate Grupo Alfa, sold a $500m 10 year bond on Wednesday at the tight end of expectations to become the latest in a line of Mexican issuers to tap the primary market in September.

Rating: Aaa/AAA/AAA

The breakneck speed of dollar corporate bond issuance continued this week, with lower rated investment grade borrowers dominating investors' attention as they came to the market to lock in attractive financing rates amid fears the credit rally may run out of steam.

Evidence is mounting that Enel’s $1.5bn sustainability-linked bond, issued last Thursday, introduced not just a new product, but a new market. In recent days the deal has generated intense interest, and Enel has committed to using the product extensively in future, writes Jon Hay.