JP Morgan

Investors continued to pour money into the US corporate bond market this week as March's rally in high grade bonds turned the market positive for the year.

Several large banks active in European ECM breathed a sigh of relief this week, as they completed the tortuous IPO of German wind turbine marker Senvion — one of only a few listings on offer in the quiet lead-up to Easter.

China's Fosun International is planning to spin off and list wholly-owned insurance subsidiary Ironshore, according to a filing with the Hong Kong Stock Exchange.

A trio of issuers in euros joined the sole dollar SSA benchmark deal this week in a flurry of pre-holiday activity, with a banker away from the this week's action remarking that the terrorist attacks in Belgium were likely to have a limited effect on SSA deals.

Evofem Holdings, a company backed by Invesco and Woodford Investment Management that is developing woman-controlled, hormone-free contraceptives, has abandoned an attempt to raise up to $200m of new money for the company by floating on Aim.

The bookbuild for the initial public offering of Senvion was completed a day early, on Monday evening, and resulted in a price near the bottom of an already much lowered price range.

Unédic and the European Stability Mechanism nipped in ahead of the Easter holiday to print euro benchmarks, in seven and 20 year tenors, respectively.

The private equity owners of German wind turbine maker Senvion have grudgingly relaunched its Frankfurt IPO, just five days after pulling it on low demand. The new deal is half the size of the earlier one, and implies a valuation €300m lower.

Unédic and the European Stability Mechanism are set to price euro deals this week, taking advantage of a window before the start of the Easter holidays later this week.

There were no FIG deals in the market on Monday morning after last week’s splurge of issuance, but sentiment remained positive and market participants said the post-ECB meeting rally could continue up until Easter.

Argentine state oil company YPF sold $1bn of five year notes at a new issue premium close to flat on Friday as the threat of an imminent flood of supply from Argentina did nothing to quell demand.

Azerbaijan's Southern Gas Corridor Company printed its $1bn 10 year bond on Thursday 80bp back of the sovereign curve, benefiting from an explicit state guarantee.