Mizuho

The Republic of Indonesia released further guidance for its four-tranche yen transaction on Wednesday, with pricing expected in a week. The Samurai bond comes around the time the sovereign regained its investment grade status from the last of the three major ratings agencies

KfW launched a three year global on Tuesday, raising $5bn, while Japan Bank for International Cooperation picked banks for a four tranche dollar trade.

S&P has raised Indonesia’s long-term sovereign credit rating to BBB- from BB+ with a stable outlook, on the back of reduced risks to the country’s fiscal metrics. Seven corporates were also upgraded by the agency last Friday.

Mizuho Americas has appointed Massimo Tassan-Solet to head of derivatives trading.

Volatility late in the week failed to dampen a scorching few days of public sector dollar issuance, auguring well for more expected supply in the currency next week. Four issuers — some of which came this week to avoid other trades pencilled in for next week — were able to price deals at tight levels, with some coming through their curves.

Public sector issuers “can do whatever they want” in a rampant dollar market, with investors ploughing into books despite deals pricing close to or flat to their curves.

Eurobond offerings from US high yield borrowers may be harder to find in the second quarter of the year as pricing terms improve for US borrowers.

Public sector borrowers are rushing back into dollars after a quiet few weeks for the currency, with a trio of issuers taking indications of interest for Wednesday business.

Saga, the UK insurance company, priced its £250m bond almost almost 40bp inside initial price thoughts on Tuesday, in the European high yield market's first new issue since the French election, despite fears that a Macron win could be read as negative for the Brexiting UK.

Hospital operator Ameos has scheduled a bank meeting for Wednesday morning for a €510m loan refinancing, as banks scramble for deals.

Ant Financial subsidiary Alipay (Hong Kong) Holding will increase the size of its $3bn loan, taken to partly support its bid to acquire Dallas-based MoneyGram, according to bankers. The news comes about a fortnight after Alipay raised its offer for MoneyGram by around $300m.

UK specialist insurance and travel provider Saga is set to price its first bond next week, a benchmark deal that is part of a refinancing of its financial structure.