JP Morgan

NL Financial Investments, the organisation that handles the Dutch state’s shareholdings, has selected eight investment banks as bookrunners and co-lead managers for ABN Amro’s highly anticipated flotation.

One of the biggest borrowers in the public sector capital markets is gearing up to test demand in the belly of the euro curve, two days after a less than ecstatic investor response to a 10 year from Finland.

Public sector benchmark issuance snapped back after extreme volatility in credit and equity markets early this week, but bankers are concerned about the depth of demand in the currency.

Finland priced a €3bn 10 year deal a day after global markets were rocked by a big sell-off in Chinese equities. But the investor response to the deal had some bankers saying the issuer should have waited.

Two rare issuers announced plans to issue euro debt on Tuesday, with Swisscom mandating for its third ever deal and Pentair hiring banks for a possible debut in the currency.

Swedish Export Credit Corporation had to brave turbulent conditions on Friday to wrap up a flurry of dollar benchmarks from public sector issuers this week.

Tata Power's subsidiary Khopoli Investments is making a quick return to the loan market, mandating six lenders to arrange a $300m refinancing.

More currency volatility and a shaky stock market may look scary, but the trend for foreign ownership of Chinese securities is up. Standing at just 2% of the Chinese market, further reforms can only boost the quota of Chinese equities and bonds in global portfolios, according to banks and asset managers.

The brutal sell-off that afflicted Brazilian bonds in July appears to have slowed somewhat amid the low trading volumes of August, though economic bad news and political troubles show no sign of abating.

Though this month has been one the quietest Augusts in the memory of many Latin America bankers, Peru was correct to anticipate US rate rises by issuing its first new dollar benchmark since 2010 on Tuesday, they said.

Pohjola Bank’s next capital markets issue will likely be a covered bond, meaning investors waiting for a euro tier two deal scheduled for June may have even longer to wait.

The dollar pipeline for SSAs showed no signs of closing on Thursday, as an agency mandated, a supranational printed, and bankers suggested that next week will be even busier.