Natixis

Esoteric names from the FIG market are expected to fill the post-Easter issuance pipeline to take advantage on the constructive market conditions on offer.

Lansforsakringar Bank (LF Bank) enjoyed the sole attention of the market on Thursday as it placed the day's only senior bond in euros. With market conditions constructive, bankers expect more esoteric names could follow.

Italy and Portugal are the first two eurozone sovereigns out of the blocks for syndications following the Easter break, with the former looking to extend its curve by a further five years.

Air France-KLM has revealed plans for a €4bn recapitalisation backed by the French government following approval from the European Commission.

French insurer Axa issued its inaugural green tier two bond on Wednesday and attracted a peak order book of more than €3.4bn for the €1bn deal.

Canary Wharf made its debut in the bond markets in its present form on Tuesday, with a green triple tranche bond in euros and sterling that found plenty of demand, despite the rocky future for office space.

Axa is lining up its inaugural green deal in tier two format, becoming the latest financial borrower to combine a subordinated bond with an ESG label.

CNP Assurances found favourable pricing in dollars this week, when it ventured into the Reg S market for its second sale of restricted tier one (RT1) capital.

Europe’s high grade corporate bond market was busy this week, as slightly improved market conditions prompted a diverse set of issuers to lock in funding before the end of the quarter.

BPER Banca overcame its sub-investment grade rating on Thursday, attracting plenty of demand for an inaugural social bond that will fund Covid-19 related lending in southern Italy.

Europe’s corporate bond investors got stuck into unrated debt on Thursday, as German airport operator Fraport and French care home company Orpea printed bonds.

BPER Banca and UBS ventured out into the euro market on Thursday. After a quiet few days, issuance is ramping up as rates volatility subsides, with bankers expecting a light shower of deals ahead of Easter.