JP Morgan

Oman has hit the screens with a copycat trade of its 2017 triple tranche $5bn note, navigating a more volatile market than it may have hoped for after a back-up in US Treasuries on Tuesday.

Dollar investors had plenty of Chinese property bonds to choose from this week, with four issuers competing for their attention on Tuesday. But with no end in sight to the pipeline, companies will have to navigate the market carefully, or cough up a premium for their bonds.

PhosAgro, a Russian phosphate-based fertiliser company, is embarking on a series of investor meetings to market a five to seven year dollar bond.

The euro market is providing borrowers with superb execution — KfW gathered its largest ever book for a 10 year on Tuesday — but investors are requiring healthy new issue concessions in order to commit.

January’s impressive pipeline of sovereign issuance is starting to unload, as Italy and Portugal hit screens on Tuesday for their first syndications of the year.

Italian electricity supplier Enel sold its second green bond on Tuesday, repeating the timing of its first such offering in 2017, which it also sold in the second week of the year. The latest deal was the same size, but priced tighter and won a larger order book, despite printing with a longer maturity.

Kuwait could become the latest Gulf Corporation Council sovereign to issue 30 year debt after its parliament approved a bill allowing the government to raise its borrowing ceiling to KD25bn ($83bn), and to issue international debt out to 30 years.

Property companies Country Garden Holdings Co (CoGard), Times Property Holdings, Tahoe Group Co and Wharf Real Estate Investment Company hit the dollar debt market in force on Tuesday.

MLP Sağlık Hizmetler, also known as MLP Care, the largest private healthcare provider in Turkey, has begun investor education for its flotation on Borsa Istanbul, in which it hopes to raise about TL500m ($133m) of primary proceeds.

KfW and Dexia Crédit Local are first out the blocks in what looks set to be a busy euro market for public sector borrowers this week.

Country Garden Holdings Company (CoGard) and SEA Holdings are planning their comebacks to the offshore debt market, while Wharf Real Estate Investment Co is set to test its luck with accounts for the first time.

Michelin, the French tyre maker, crowned an interesting first week of the year for Europe's equity-linked bond market on Friday with a $600m equity-neutral convertible bond due in 2023.