JP Morgan

A pair of eurozone periphery SSAs are tackling opposite ends of the euro curve this week. Italy will launch a 30 year benchmark on Wednesday, while a Spanish agency drew a doubly subscribed book for a three year.

Industrial Commercial Bank of China’s London branch and subsidiary signed a self-arranged $1.25bn facility in an oversubscribed deal with 16 banks on Tuesday. The deal follows a spate of lending by the bank in emerging market deals.

Peruvian state-owned oil company Petroperu will issue bonds maturing in between 15 and 30 years, said Standard & Poor’s, as the company meets investors.

China Merchants Bank printed its inaugural international floating rate note this week, becoming the first joint stock bank from the country to do so. It priced its bonds close to fair value.

Corporate bond bankers in Europe appreciated the break in primary market activity on Monday after the busiest May on record. Bankers said giving investors time to digest the latest trades would help demand remain strong in the coming weeks.

Société Générale has opened the books for the Paris flotation of ALD, its car leasing business, which if completed, will be the largest French IPO since asset manager Amundi went public in November 2015 for €1.6bn.

China Three Gorges Corp is set to make its debut in the green debt market with a euro offering, and is gauging investor appetite with a week-long roadshow.

Mainland banks continue to be active in the floating rate bond market, with China Merchants Bank Co looking to sell its inaugural dollar FRN on Monday.

Hong Kong’s FWD Group and Chinese leasing firm Far East Horizon are wooing investors for their respective perpetual deals, while Tunghsu Group Co is gauging interest for its debut international bond.

Rating (expected): Aa1/AA-

The Republic of Côte d’Ivoire’s plans to issue the first euro denominated trade from sub-Saharan Africa is dividing the market. Some see the trade as a sensible move to fund in the country’s “natural currency” while others argue that the trade could be a warning sign that we are reaching the top of the bull run.

There was just a smattering of public sector dollar deals this week — but a wide difference in how they fared.