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The European Central Bank’s decision to add 13 corporate issuers to its bond repurchase programme boosted cash markets but did little to lift the mood in European credit default swap indices ahead of a Greek referendum on Sunday.

Belgian insurer Ethias announced the terms of an exchange offer for its perpetual tier two 4.747% notes this week. The insurer has been blighted by negative headlines, which have hit the performance of its bond over the last six months.

US industrials company Danaher broke the lull afflicting primary corporate bond markets with a €2.7bn issuance to back its purchase of Pall Corporation on Wednesday.

And the corporate bond market thought it would be a quiet week. Many syndicate bankers had been focused solely on Sunday's Greek referendum until the European Central Bank signalled its intention to barge into their world.

Equity capital markets bankers this week faced some of the hardest market conditions in months, as they struggled to get IPOs over the line after the collapse of negotiations between Greece and its creditors. But even as the count of cancelled listings mounted, some deals were still squeaking through.

The Frankfurt MTN contingent was all aflutter this week after a brush with royalty — but it seems that Britain’s Queen Elizabeth II didn’t have time to discuss the latest market issues.

Away from the spotlight of euro market turmoil, FIG issuers are continuing to find an abundance of funding opportunities in niche currencies.

Loans for the oil and gas sector have been keeping a languid loan market pepped up in the first half of the year.

The CME Group will phase out open outcry trading of almost all futures products on Monday.

As the technical backdrop looks stronger now than at any time this year, issuers should step up and execute funding plans before the Greece crisis gets any worse.

3i — ACE — Touax — Playtech

Europe's investment grade corporate bond market moved to a lethargic beat this week, but the mood is calm among bankers, and most issuers are comfortable biding their time on the sidelines.