JP Morgan

Books for the Republic of Slovenia’s triple tranche euro bond tap were in excess of €3.6bn by lunchtime on Wednesday, with final spreads having been set for each clip. The deal is part of a liability management exercise that swaps out short dated dollar debt for longer euro denominated paper.

The State Export-Import Bank of Ukraine printed its local currency bond on Tuesday, but needed to pay an eye-watering 16.5% coupon to do so.

FMS Wertmanagement on Tuesday took advantage of widening swap spreads to equal the tightest spread to mid-swaps on a five year benchmark so far this year — a level that was “very tight” to KfW, said bankers on the trade. Two other borrowers are lining up to try their luck in the tenor — including one that is aiming for an even tighter spread.

Three public sector borrowers hit screens in euros on Tuesday, taking advantage of a hot market to offer zero or limited new issue premiums.

State Export-Import Bank of Ukraine has opened books on a hryvnia Eurobond with an eye-catching 16% area yield.

South Korea’s Hyundai Capital Services was confident of finding support in a busy bond market on Monday, sealing $500m from an opportunistic trade that was launched without a roadshow.

The Kingdom of Belgium hit the market on Monday with its long awaited first green OLO. The sovereign received strong demand for the deal, tightening its spread by 3bp and pulling in a book of €12.7bn.

The European Union’s upcoming April 2033 euro benchmark may have to offer a little more premium than usual if it wants to match a similar trade from the European Investment Bank last week and attract strong French demand, said bankers away from the mandate. Other euro supply in the pipe includes CPPIB Capital — also with a 2033 issue — and Rentenbank in sevens.

The Bank of England’s annual €2bn three year dollar issue was comfortably oversubscribed on Monday, but the smaller volume of orders compared with last year and lack of price movement reflected both the greater difficulty in printing short dated deals and investor pushback against super tight swap levels, said bankers. That may have played a role in FMS Wertmanagement’s decision on Monday to mandate for a five year dollar deal, they added.

A number of Indian issuers are preparing to head to the international debt market, as the appeal of offshore fundraising rises amid pressure in the domestic bond market.

Sunlands Online Education Group is planning an up to $300m IPO of American Depository Shares (ADS), according to a draft prospectus submitted to the US regulator on February 23.

The Kingdom of Belgium’s first green bond will be launched next week following a two week roadshow.