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Two of the euro corporate bond market’s more frequent issuers helped fully reopen the market with a pair of dual-tranche deals immediately following the UK August bank holiday. The quality of the credits was one of the reasons the market was able to digest €6.65bn of supply on the day.

The euro senior corporate market slowed right down over the summer, but the actual break in issuance was for barely two weeks. For hybrid deals, however, it was nearly seven weeks from the last new issue to Belgian electricity grid operator Elia’s deal this week.

Bankers are preparing to hit the ground running when they return from the Labor Day holiday next week primed for a glut of high grade corporate supply.

Abu Dhabi Islamic Bank (ADIB) and Al Hilal Bank (AHB) were this week roadshowing the first public dollar sukuk since April and the first public bank deals from the Gulf states since March.

While Brexit negotiations continued and banks juggled their contingency plans for various outcomes, two UK corporate issuers successfully accessed the euro corporate bond market this week.

The corporate bond market started at a frantic pace on Tuesday with five deals pricing. But on Wednesday French tyre manufacturer Michelin found its patience was rewarded with a chance to dominate investors’ attention and it was able to build the largest order book for a 20 year euro tranche in 2018.

Syndicate bankers on Tuesday’s triple tranche deal from German machinery maker Siemens claimed to be the winners on a day of very competitive supply.

The European corporate bond markets got straight on with business after the summer break as nearly €9bn equivalent of new paper was priced in two days this week. A healthy pipeline is ready to follow this week’s issuance as borrowers try to preempt market hazards throughout the remainder of 2018, writes Nigel Owen.

Abu Dhabi Islamic Bank is roadshowing a dollar benchmark Reg S additional tier one sukuk as the call date for its outstanding tier one approaches in October.

Czech company Atrium European Real Estate has said it is focusing on a seven year bond. That is the long end of the maturity range that had set for the note on Wednesday. But there are no signs yet of price guidance for the deal, which has already been postponed once.

On Wednesday, UK contract catering company Compass Group joined the euro corporate bond market rush with a new 10 year tranche as well as selling a seven year sterling tranche.

Czech company Atrium European Real Estate is reviving its €300m bond issue this week with a shorter maturity, having roadshowed in June. The deal looks set to be one of the first out of the gates in the emerging markets this week, after a tumultuous summer for that asset class.