Pre-migration untagged articles

The hunt for yield was the driving force in the bond market this week, as borrowers offered new currencies and longer maturities — and were amply rewarded with bulging order books and tight pricing.

Aldar Properties, the Abu-Dhabi based property group, celebrated a stellar debut in the international capital markets this week when it priced inside guidance a $2.53bn convertible sukuk — doubled from its initial size — after attracting a $13bn book.

Sberbank, Russia's biggest bank, raised $8.8bn — 25% less than expected — in a controversial Moscow rights issue this week that was marred by complaints of a cumbersome subscription process and lack of transparency.

Deutsche Bank has pushed into second place in table one, up from fourth place last week, its business including placements for some rare names, unusual currencies and the full spectrum of structured note sales.

While investors are seeking diversification, they are not turning their noses up at more telco supply as demonstrated by the appetite seen for TeliaSonera's dual tranche issue set to price today (Friday).

Vodafone and Hewlett-Packard spiced up a US bond market deluged with short dated floating rate issuance from banks this week, with some rare offerings of their own.

Just in case you hadn't noticed, the big Spanish banks are on the prowl. Not very long ago, they were not taken very seriously, but the sceptics were wrong.

The Euro-commercial paper market enjoyed another strong week as asset-backed conduits rolled over large amounts of maturing paper, while investors were paying close attention to central bank rumblings.

The covered bond market faced its biggest test of the year this week, with the launch of six issues totalling Eu8bn, but proved more than up to the challenge as each transaction sold out rapidly.