JP Morgan

Emerging market issuers were busy locking down funding through all avenues this week. The CEEMEA and Latin America bond markets are churning out deals while the main focus in loans is on a jumbo transaction for Saudi Arabia.

European high yield, which has had a dismal 2016 so far, is making another try to break out of its lethargy today, as LeasePlan, the Dutch car finance bank, is relaunching its €1.55bn bond to finance its leveraged buyout.

Chinese e-commerce giant Alibaba Group has mandated eight banks to run its $4bn loan, with invitations to be sent out to lenders soon.

All bonds great and small from the Iberian market were available on Tuesday, as the Spanish sovereign brought a long-awaited 30 year syndication and the Community of the Basque Country made a rare visit to the market.

There was a double breakthrough in dollars for public sector borrowers on Tuesday, as Bank Nederlandse Gemeenten reopened the 10 year part of the curve for core issuers for the first time in seven months and Sweden priced the tightest three year benchmark since the first week of the year.

UK property group Hammerson came to the corporate bond market on Tuesday with a €500m offering, as deal flow hit a more subdued tone ahead of the European Central Bank’s Thursday meeting.

Ten of the 11 banks that underwrote Saipem’s €3.5bn rights issue sold the bulk of their remaining overhang in the stock in a block trade on Monday night, making a gain. But Banca Imi decided to take the riskier path of selling its holdings by itself at a later date.

Kuwait Projects Company (Kipco) was on track to print 2016's first corporate bond from CEEMEA on Tuesday as Turkish conglomerate Koc Holdings also said it would issue a seven year bond.

Holders of $750m of Ukrainian poultry producer, MHP’s debt have refused to accept amendments to the bond which would prevent a covenant breach.

All but one of the banks that underwrote Saipem’s €3.5bn rights issue, and were left holding €427m of the Italian oil and gas engineering group’s stock, are selling down their stakes tonight.

The Bank of England has printed $2bn of three year paper from a heavily oversubscribed book, as fears of a UK exit from the European Union showed no impact on the central bank’s bonds.

Senvion, the German wind turbine maker, has set the price range for its Frankfurt initial public offering at a level that implies a heavy discount to its main listed peers.