JP Morgan

Indian financial services company IDFC is set to raise about Rp10.5bn ($173m) through a qualified institutional placement which is targeting just domestic investors.

Increased trading activity in the fx options market, particularly in G10 currency pairs, has resulted in a significant spike in volatility following months of low fx vols and trading volumes.

Lagardère, the unrated French media group, returned to the bond market today after a two year absence with a successful €500m issue that showed how it has repositioned its credit as an investment grade issuer.

Co-op Pharmacy will hold a bank meeting this Friday to market a £725m loan that backs its buyout by Bestway, the UK food wholesale group.

Metropolitan Life hit screens with a trio of senior unsecured deals on Wednesday morning, looking to print in euros, Australian dollars and Swiss francs. Strong appetite for insurance company paper is expected to assure the issuer of a warm reception for its trio of deals.

Abu Dhabi Commercial Bank returned to the dollar market on Tuesday and made a 50bp saving at the five year part of its curve. Middle Eastern spreads have come flying in over the past year and bankers said that the bond came at the tightest possible level.

Iron Mountain, the US data storage group, today launched a £350m bond issue to be used to repay debt and for general corporate purposes.

More issuers are expected to take advantage of a booming senior market in euros later this week, following a pair of well received seven year prints from JP Morgan and Finnish insurer Sampo on Tuesday. A strong market tone following last week’s European Central Bank meeting and hunger for paper after a quiet summer period are expected to keep demand strong.

Alfa Bank Russia still intends to come to the international bond market with a dollar subordinated Eurobond in the next two months, despite the worsening headlines around Russia and Ukraine.

The heavy flow of European corporate bond issues that bankers have been predicting for September began in earnest today, showing that the market’s strength has been no idle boast. Investors swallowed five roadshowed deals in euros and sterling and Vodafone launched a two tranche issue without warning. All were gobbled down with ease.

US chemicals producer FMC Corporation is using a bridge loan to back its $1.8bn acquisition of Cheminova, the Danish crop protection company, from Auriga Industries.

Macquarie and Zurich Insurance kicked off what is expected to be a busy week for senior issuance on Monday as issuers looked to take advantage of positive sentiment following last week's European Central Bank meeting. Zurich was able to draw together a comfortably oversubscribed book, while Macquarie printed with only a small new issue premium compared to secondary paper.