JP Morgan

Council of Europe Development Bank on Thursday rounded off an enormous week for public sector dollar issuance, adding volume to what has already been the busiest start to a year in dollar benchmarks. Several SSA bankers believe the next step could be a move out the curve to 10 years.

Russian corporate bond issuance for 2017 looks set to begin with Rusal, the world’s second largest commodity producer, which has gone through multiple debt restructurings.

The tally of sterling high yield bond sales in January is on course to reach £2bn after Jaguar Land Rover on Thursday launched a new £300m offering, adding to a recent surge of deals in the currency.

Kernel Holding has hired two international banks to work on a bond offering, the first corporate new issue from Ukraine since 2013.

The Export-Import Bank of Korea (Kexim) raised $1.5bn Wednesday across three and five year tranches, less than a week after the Republic of Korea reopened the Asian sovereign market with a $1bn 10 year deal.

The Dominican Republic raised $1.2bn of debt on Wednesday close to its curve, taking advantage of strong demand for Lat Am credit.

The European Investment Bank scored an impressive €5bn with a 10 year Earn on Wednesday.

One of the busiest days ever in the public sector dollar market ended with five issuers sitting on deals printed at the top end of their size targets and with pricing tightened from initial thoughts. Another borrower is already out for Thursday business and bankers predict that conditions are so “incredible” that deal flow will stay healthy into next week — no matter what policy statements incoming US president Donald Trump makes at his inauguration on Friday.

JP Morgan Asset Management on Wednesday launched its Europe High Yield Short Duration Bond Fund for investors seeking protection against future interest rate hikes.

Shares in Banco Comercial Português, the Portuguese bank, closed 15% higher on Tuesday after they began trading ex-rights ahead of its €1.33bn rights issue to strengthen its capital buffers and repay contingent convertible bonds owned by the Portuguese government.

The pipeline for euro issuance is filling up once again as the European Investment Bank looks to raise funds at 10 years, although a deal from KfW on Tuesday appeared to struggle to reach €1bn.

Paper packaging maker Smurfit Kappa launched a drive by benchmark euro offering on Tuesday, as it looks to refinance existing securitisation facilities.