Demand for callable MTNs from sovereign, supranational and agency issuers has skyrocketed in 2015 but, when short term rates start rising in the US, investors could be left holding expensive paper. While many issuers will come to the rescue and buy back on demand, some buyers will have to live with their investment.

Corporación Andina de Fomento made a rare appearance in yen on Tuesday, printing its largest medium term note in the currency in over six years.

Export Development Canada returned to renminbi on Monday, using the medium term note format to print its largest ever deal in the currency.

France’s plans to reshape its administrative map, cutting the number of regions almost in half, will improve and increase regions’ access to the capital markets, according to Moody’s.

Forget President's Day and Chinese New Year — it seems that a different celebration was the most observed in the MTN market this week: Pancake Day.

Companies may obtain fresh funding opportunities in euro commercial paper, as European money market funds move away from bank issuers, which are posting tighter and tighter levels and cutting issuance.

Floating rate private placements in dollars have been catching on ahead of expected rates rises from the US Federal Reserve in the coming years, but bankers are divided on whether the trend will leach into an increase in benchmark issuance in the format in 2015.

Short term debt opportunities are opening for public sector borrowers as European money market funds move to the asset class at the expense of banks, which are posting tighter and tighter levels and cutting supply in euro commercial paper.

Santander has appointed a head of MTNs and structured notes, hiring a seasoned MTNs banker from a rival firm after its previous desk head moved elsewhere in the bank.

A pair of French sub-sovereigns have printed medium term notes over the past week and more are expected to follow as they approve their budgets for 2015. Despite the upcoming capital markets debut from France’s answer to Municipality Finance, Agence France Locale, issuance from France’s local authorities is set to continue and even grow, according to MTN bankers.

Private placement investors are having to confront negative yields up to five years on the maturity curve as the European Central Bank’s announcement of quantitative easing and a flight to safety after concerns over the stability of the euro drive spreads in Europe even tighter. While some investors are buying structured notes to gain a positive return, some may have no other option.

International Finance Corporation has become the most recent supranational to print in Russian roubles, following close behind a trio of its peers that made rare appearances in the currency last week. High yields in the currency, despite Russia’s central bank cutting its key interest rate, have bankers expecting more supply to come.