JP Morgan

State Bank of India launched the first-ever offshore Basel III compliant additional tier one (AT1) bank capital offering from an Indian name on Wednesday, a deal market participants expect to set the pricing benchmark for future Indian lenders from this asset class.

Deal fatigue is not a term World Bank investors seem familiar with after they put in $4bn of orders on Tuesday for the borrower's fourth five year dollar benchmark of the year, allowing it to be priced at the tight end of guidance.

Kommunalbanken (KBN) on Tuesday took advantage of Lael Brainard's, a US Federal Reserve governor, dovish comments on US rates from the day before to eliminate any premium paid on its new five year dollar benchmark.

HSH Finanzfonds printed its first ever public bond on Tuesday, attracting strong enough demand for two rounds of price tightening.

Nets, the largest digital payments processor in the Nordic region, has announced the price range for its Copenhagen IPO, which values the business at up to $4.8bn, almost double the price its private equity owners Advent and Bain paid for the company in 2014.

US car rental group Hertz on Monday opened a two day roadshow for euros to refinance part of the debt of its European division and fund its operations.

The prospect of the first international bank capital trade from India is closer with State Bank of India on the road this week for a dollar-denominated additional tier one. While it has picked a good window, it needs to get the pricing right or risk derailing the rest of the market.

Postal Savings Bank of China has started taking orders for a Hong Kong IPO that could be worth HK$62.7bn ($8.1bn). Set to be the world’s largest float in two years, the deal is going to add about $130m in fees to the underwriters’ coffers.

The World Bank mandated four banks on Monday to sell a five year dollar benchmark. The bond will be the borrower's first benchmark at the maturity since May.

Bank Nederlandse Gemeenten has kicked the week off with a long dated tap in euros and a mandate for a follow-up two year dollar benchmark, which will share Tuesday's market with two other dollar trades.

German healthcare group Fresenius has mandated three banks to provide a bridge loan for its €5.76bn acquisition of Spain’s largest private hospital group, Quirónsalud, and may add a fourth, according to a banker close to the deal.

Credit is expensive relative to fundamentals, JP Morgan announced this week, yet the actions of central bank policy will ensure that it remains so toward year end as risk premiums are increasingly compressed, and investors remain desperate for paper.