JP Morgan

Turkey’s Ziraat Bank was quick to take advantage of the recent rally in Turkish credit, opening books on a five year bond at 5.5% on Tuesday morning.

India’s HPCL-Mittal Energy (HMEL) took centre stage on Monday, selling the only international bond from Asia ex-Japan. The 4x covered deal benefited from support from state-owned HPCL, with the bonds trading up by 50 cents in the secondary market.

The result of the first round of the French election has imbued the markets with a fresh confidence, prompting the European Financial Stability Facility (EFSF) to mandate banks for its third dual tranche trade in a row.

The European Bank for Reconstruction and Development (EBRD) is set to bring a dollar benchmark to investors starved of supply in the currency. Despite dollar conditions being strong all month, no borrowers brought deals last week — perhaps because they preferred to wait for the first round of the French presidential election to pass on Sunday, said bankers.

South Korean game developer Netmarble Games has wrapped up its W2.7tr ($2.4bn) IPO, the largest in the country in seven years, on the back of a flood of demand.

As the perceived European political risk reduced following the results of the first round of French elections, Asian debt markets opened on Monday to a deal from India's HPCL-Mittal Energy (HMEL).

Drax Group, the UK energy holding company, held a roadshow on Wednesday and Thursday for a £500m fixed and floating rate senior secured bond offering, following its acquisition of Opus Energy earlier this year, and further increased it to £550m on Friday.

South Korean game developer Netmarble Games is set to rake in W2.7tr ($2.4bn) from its IPO as books were multiple times covered at the top of guidance, according to a banker on the deal.

Strong volumes at the start of the year and an easy comparison quarter have meant the US banks have posted stonking sets of investment banking numbers in their first quarter reporting. Goldman’s trading numbers may have disappointed, but broader business is booming on Wall Street.

Wall Street’s heavyweights peppered the dollar market with big self-led callable deals after reporting a stream of strong first quarter earnings, with one notable exception.

Shares in Cobham, the troubled UK aerospace and marine technology company, have risen 12% since the company’s shareholders gave their backing for the company’s second rights issue in 12 months on Wednesday.

UK hotel group Travelodge and social care firm Voyage Care both started roadshows on Wednesday for £165m and £250m of notes, respectively.