JP Morgan

Public sector borrowers have jumped on demand for Brazilian real notes with a flurry of medium term notes — and there is more in the pipeline, said niche currency and MTN bankers.

L-Bank jumped on strong momentum in euros this week to print its first benchmark of the year in the currency. The five year note found no shortage of demand and drew the biggest order book the issuer has had since 2006.

Beijing Automotive Group (BAIC) has priced the second euro-denominated bond by a Chinese auto company, following a recent issue from one of its peers. Seven firms in total were hired as joint global co-ordinators for the €500m ($552m) deal after the issuer added five more banks to the syndicate to reward them for placing anchor orders.

Japan Post Holdings has priced its IPO at the top of the range to raise ¥693bn ($5.78bn), as the country’s government finds big success with its simultaneous triple listing.

SNS Bank sold €500m of tier two debt on Thursday, making a convincing return to capital issuance having been expropriated by the Dutch government in 2013.

Russian steel company TMK has launched a tender offer for its 2018s through Citi and JP Morgan.

Primary bond activity in Asia picked up again on Thursday following the end of the meeting of the Federal Open Market Committee (FOMC), with a pair of Chinese issuers launching separate deals in dollars and euros.

Two SSAs tapped the middle of the euro curve on Wednesday, a move about to be copied by another agency which is set to bring a five year deal on Thursday.

Banks outside the bulge bracket are pushing to be allowed more influence and information in high yield bond syndications, which have traditionally been tightly controlled by the top banks. Victor Jimenez reports.

Latin American sovereigns’ march back towards European bond markets continued on Tuesday as Peru achieved its lowest ever coupon on an international bond with its long 10 year. But opinion is split on the value of the euro market.

A pair of agencies are set to tackle the belly of the euro curve, following a five year euro benchmark from European Stability Mechanism that left the supranational with just €2bn left to fund in 2015.

Bank Nederlandse Gemeenten sold its largest ever sustainability bond and the European Investment Bank added a new currency to its climate bonds on Tuesday, as a draft standard was launched for the market.