Morgan Stanley

Indian power company NTPC made its debut in the euro market on Wednesday with a €500m deal, seeking out the currency to take advantage of favourable interest rates.

Investors had to get to grips with the dynamics of Mainland water supply this week as China Water Affairs Group made a $300m debut on Wednesday.

Multinational food company Sigma Alimentos is preparing ground for what is likely to be the first new issue from a Mexican borrower since Donald Trump became president of the United States.

MUFG has hired two directors in its leveraged finance team in London, following the appointment of a new head of loan syndications last year.

A trio of issuers brought deals across the short end of the dollar curve on Wednesday, adding to what one SSA syndicate head described as the “ideal January”. Supply looks to have dimmed for now, with no deals on screen for Thursday and Chinese New Year holidays next week likely to halt benchmark issuance, but bankers believe conditions are so hot that arbitrage deals or floating rate notes could still break through.

Fujian Zhanglong Group Co raised $150m from a tap on Tuesday, in a deal driven by reverse enquiry and anchored by indications of interest ahead of launch.

India is set to welcome its first international green bond of the year, as Jain Irrigation Systems opened books for an up to $250m transaction.

Public sector borrowers are staying focused on the belly of the dollar curve, with a pair of issuers lined up for Wednesday. Demand at that part of the curve shows no sign of letting up, with two issuers out in fives on Tuesday — one of which was able to increase the size of its issue from its initial target.

VodafoneZiggo obtained the go-ahead from leveraged loan investors on Tuesday to increase the size of its refinancing deal by more than €2bn while cutting margins.

Pattern Energy, a US renewables roll-up, priced its debut high yield bond on Friday, after the $350m offering had been marketed to investors last week.

Investors in US banks might be looking forward to regulatory easing under President Trump’s administration, backed by a Republican Congress. They might eventually see some benefit, but a steeper yield curve is much more important.

France surpassed the expectations of even the most passionate supporters of the green bond market on Tuesday, selling comfortably the largest ever print in the format. Socially responsible investment (SRI) experts believe the deal makes it almost certain that other sovereign issuers will add green bonds to their funding mix.