Nomura

Garfunkelux, the German debt collection company, on Thursday issued £795m of notes in the first sizeable European high yield issue for three weeks. Market participants are now eager to see if other issuers finally follow in its steps.

Bank of Ireland and Caja Rural Unidas issued this week’s only two covered bonds from Europe’s periphery, both offering attractive concessions.

Covered bonds issued this week by Nordea Finland and DNB Boligkreditt went surprisingly well as, despite being the largest ones on offer, they were the most highly oversubscribed and subsequently posted the best performance.

Rentenbank has responded to pent-up demand for Australian dollar paper with the largest long dated Kangaroo bond from a public sector borrower since July.

Chinese developer Soho China has extended the offer period to buy back its existing bonds by a week, after noteholders tendered just 36% of the company’s 2022s.

The European Investment Bank brought a benchmark that public sector bankers hope can bring some stabilisation to the dollar market, as another supranational eyed up a potential new source of demand.

Italy blew the doors off the market with the first eurozone periphery sovereign benchmark in a month. And with extra explosives from the European Central Bank, it may have blown a hole big enough for its peers to pile through, writes Craig McGlashan.

Hellman & Friedman is acquiring a majority stake in the Swedish company Securitas Direct with a €2.7bn financing package involving bonds and loans — but market sentiment remains downhearted.

Japan Post sets sail with IPOs — Datang Environment files in HK — Banpu Power eyes Thai float — Larsen & Toubro seeks $300m listing

A eurozone periphery sovereign drew a hefty book for an inflation linked benchmark on Wednesday, paving the way for other countries from the region to bring deals, according to SSA bankers.

A supranational issuer fell just short of full subscription with a four year dollar deal on Wednesday, as SSAs looked for favourable pricing opportunities with unconventional maturities and short dated floaters.

The Japan Post group has announced price ranges for the long-awaited IPOs of its three units, set to collectively raise ¥1.44tr ($12.03bn) to become the biggest offering this century in the country.