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The African Development Bank priced a N12.78bn ($104m) one year bond in Nigerian naira this week, in a deal that scored several firsts for the African currency market.

Portuguese telecom company Sonaecom¡¯s Eu14.75bn loan to back its hostile takeover of its larger rival Portugal Telecom will be launched in February.

Stadshypotek, Svenska Handelsbankenfs subsidiary, returned for its second euro denominated covered bond benchmark this week with a Eu1.5bn three year issue priced at 6bp through mid-swaps, which confirmed Swedish creditsf position at the tight end of the market.

The credit curves have flattened sharply from the eye-catching steepening that was a noted feature of the market at the end of last year, and a pick-up in structured issuance at the back end of the curve is said to be chiefly responsible.

Despite busy public bond markets, which habitually take investors away from structured notes, borrowers were still able to sell large MTNs linked to interest rates and equities this week.

Tokyo Electric Power brought a Sfr300m five year bond this week in a transaction lead managers hailed as the most successful deal of the year so far in the Swiss franc sector.

Barclays Capital heads table one, which excludes self-led transactions, having been particularly active selling Austrian Landesbank names this year.