JP Morgan

Jefferies has hired Christopher Dickinson from JP Morgan as a managing director in its UK corporate broking team as the US bank continues to expand its offering.

Millicom International Cellular has added to a growing corporate bond pipeline this week with a 10 year non-call five note, which will be combined with a buy-back.

Russian Railways will meet investors on Wednesday to discuss its first Swiss franc bond in five years.

BOC Aviation took off with its first dollar-denominated dual-tranche offering on Monday, marking a rapid return to the international debt market this year.

Euro corporate bond issuance returned on Friday after a blank day due to Thursday’s European Central Bank meeting. As the ECB’s president, Mario Draghi, said nothing to unsettle markets, US machinery maker John Deere and Italian oil and gas company Eni both priced deals in euros before the weekend, while Sweden's Akelius Property did the same in sterling.

Chinese state-owned Weichai Power Co priced a $775m senior perpetual bond on Thursday, enjoying a quiet day of issuance to bag a deal inside analysts’ fair value estimates.

A lack of five year dollar supply and an acceptance that since the summer issuers need to offer a bit more juice helped a pair of supranationals launch strong trades this week. Other supras are rumoured to be considering follow-on deals next week, although some bankers warn that investor appetite may be sated for the moment, and everything could hinge on how a sharp US Treasury move late on Thursday plays out.

Rating: Aaa/AAA/AAA

The dollar high grade bond market returned to barnstorming form this week following the summer break with a Who’s Who of corporate America tapping the market.

The European high yield bond market returned from its summer break to €3bn of new bond offerings this week, including notes from Delaware’s Kronos International and California’s Equinix.

Agence Française de Développement stormed back into the dollar market on Thursday, printing its largest trade in the currency in six years with a comfortable oversubscription and tightened pricing. The deal put to rest AFD’s pulled dollar trade in February, said bankers.

Telefónica printed the largest single tranche of the day on Tuesday, with a €1.25bn deal with a January 2028 maturity. Despite competing with three other corporate bond deals in the euro market, the deal built a €3bn order book and was printed with a single digit new issue premium.