JP Morgan

Santander’s Chilean arm, the largest bank in the South American country, issued in its fifth currency of the year this week as it became the second borrower — and first from Latin America — to raise money in the Tokyo Pro-Bond market.

In yet another sign of the European high yield market's bullishness, SGD Group, the French glass packaging company and a debut issuer, has priced a fixed rate bond with an unconventionally short non-call period, increased the deal and sold it inside price guidance. And SGD is not alone — Alain Afflelou, a French optician chain, is following the short call example.

TeamSystem, the Italian software designer and distributor, has sold a €130m tap of its 7.375% 2020 bond to finance its acquisition of 24Ore Software.

After mandating leads for a roadshow at the end of March, Berlin Hypothekenbank (BHH) opened books on Monday for a €500m seven year Pfandbrief. Though the deal had been widely anticipated, bankers said Ukrainian headline risk could have derailed its timing.

Tanks are moving in Ukraine and shots being fired are no longer isolated. But to look at financial markets, you would think Russia’s president Vladimir Putin had flown to Kiev to kiss and make up.

Investors snapped up a pair of tightly priced benchmarks from public sector issuers this week — setting up for promising issuance conditions when their funding officials return to the office after the Easter break.

Moroccan phosphate group OCP launched $1.25bn of 10 year notes at a 5.75% yield on Wednesday evening, at the tight end of guidance that had already been crunched to 5.875% area. A $300m 30 year note was also added in the afternoon, with guidance of 7.375% area, and launched at that level.

Snam, the Italian gas transport network, found very strong demand on Wednesday for a €500m bond issue, as investors ignored the threat of war between Russia and Ukraine and piled into West European corporate credit.

Moroccan phosphate group OCP has tightened price guidance on its 10 year debut bond to a yield of 5.875%, a level that rival syndicate and DCM bankers said represented 100bp over the sovereign and was therefore too generous.

State Grid Corp of China will meet with investors next week, as it looks to make a return to the dollar market following its last deal, a $2bn triple trancher in May 2013.

MIE Holdings priced a $500m bond on Tuesday night to redeem an existing bond that will be called in May. A substantial anchor presence in the order book built a solid foundation for the 144A/Reg S transaction, which managed to print slightly inside the issuer's existing curve.

State Bank of India last week issued a dual tranche bond that was six times oversubscribed, suggesting many investors' outlook on India remains positive.