JP Morgan

KfW returned to the market for its second five year euro benchmark of the year. The €5bn zero coupon note was issued with the lowest yield ever printed by the German issuer.

The World Bank has returned for its third Sonia-linked note, with the issuer taking indications of interest for a 3.5 year sterling benchmark trade.

Iceland plans to defrost its euro curve with a new syndicated issue, its first since December 2017.

Magnitogorsk Iron and Steel Works (MMK), the second largest steel producer in Russia, released price guidance for a $500m five year bond on Wednesday at a level that one EM investor said looked “interesting”.

After 10 days of very scanty issuance and some weak markets, more stable conditions on Tuesday brought a salvo of five deals to the euro corporate bond market, offering a wide range of single-A and triple-B credits.

The State of Schleswig-Holstein returned to the market with a 10 year note on Tuesday. Meanwhile, KfW has announced a new five year euro deal, following on from January’s record KfW book for the maturity.

Huatai Securities, the Chinese brokerage, has revived its plan to sell $500m of global depositary receipts (GDRs) on the London Stock Exchange, having postponed the deal last year due to regulatory uncertainties.

Investors are calculating the value of Airtel Africa, the African subsidiary of Indian telecoms conglomerate Bharti Airtel, as it is going ahead with a floatation on the London Stock Exchange (LSE).

Georgia’s largest commercial bank TBC Bank is on the road to promote a dollar benchmark. The deal coincides with the bank’s push into its neighbouring markets, Azerbaijan and Uzbekistan. The bank is spearheading the move with tech platforms.

Volkswagen has rebooted the IPO of Traton, its trucks division, after the deal was delayed in March due to volatility in equity markets caused by the ongoing trade tensions between the US and China.

The first results are emerging from the worldwide drive to get companies to think about how climate change is going to affect their businesses. Over 40% of the world’s biggest firms are now able to give an estimate of how much they expect to lose and gain. Collectively, they forecast twice as much upside as downside. But this may be optimistic, especially as the data are skewed to financial services.

JP Morgan has appointed Xavier Bindel as co-head of technology investment banking for Europe, the Middle East and Africa, as it seeks to improve its capabilities in a brisk area of business.