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Argentina will offer a rare high point for Latin American new issuance volumes next year, predict bankers and investors, after voters in South America’s second largest economy elected the most business friendly candidate as their next president.

MasterCard, the US credit card payments company, raised €1.65bn on Monday with its first euro bonds — and only its third bond issue ever.

Abengoa is swimming for its life, but looks likely to sink beneath the waves of debt. Already, hindsight is beginning to make this look like an outcome everyone should have seen coming.

SKF, the Swedish ball bearing maker, won a €2.2bn order book on Tuesday for a €500m no-grow bond, issued to partly fund a tender offer for older notes.

Banks, investors and even the Spanish and US governments are bracing themselves for a long and bruising battle to restructure Abengoa, the Spanish renewable energy group likely to enter a pre-insolvency period on Friday.

A Canadian province braved the five year spot in dollars on Friday. A healthy spread over US Treasuries prompted strong demand despite negative five year swap spreads, which has caused other issuers to avoid this part of the curve.

The European Central Bank (ECB) has tightened collateral rules affecting the use of self-issued retained covered bonds in a move that is likely to encourage public issuance.

Gunvor, the commodity trading company, has closed its refinancing loan with commitments surpassing the deal's $1.1bn launch size.

Danone returned to the corporate bond market on Monday for the second time this year, with a €750m 8.5 year bond.

CRH, the Irish building materials group, breezed through the new issue market on Wednesday with a deal of more than €1bn in euros and sterling.

BMW has kept its bond issuance going apace in the past fortnight, since it returned to the market for the first time after the Volkswagen emissions cheating scandal.

Bankers say higher yielding instruments could coax investors from their Christmas slumber next month, after Allied Irish Banks’ (AIB) priced its well subscribed debut additional tier one on Thursday.