Pre-migration untagged articles

The dollar market was awash with issuance this week as corporates scrambled to take advantage of low financing costs and high demand at the short end of the curve before volatility returned to crimp investor appetite.

Primary activity is building in European FIG after a quiet start to the week across covered bonds, senior unsecured and securitisation.

European bail-out talk continues to dominate markets this week, with speculation of another package in the works for Greece as bankers await the outcome of crucial meetings of European finance ministers next week.

A slew of emerging market bond deals is expected in the next fortnight, after Hungarian fertiliser company Nitrogénművek, the Hungarian Development Bank and the Sharjah Islamic Bank announced investor meetings this week, while Emirates Bank is also offering a bond exchange.

Corporate bond demand has proved resilient to wobbles in the sovereign market in the past but now seems completely impervious.

Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of less than 365 days

The Greeks may be about to default and the size and number of deals required by the EU and EFSF to bail out Portugal is still unknown, but the SSA market is starting to feel more like the good old days with every passing week. May should be a good month for SSA borrowers and bankers.

Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of less than 365 days

Sovereign, supranational and agency borrowers discovered strong appetites for their paper among retail investors this week.

Carlos Saba is to join Deutsche Bank in the new position of head of European par-loan trading, leaving a similar position at Nomura. He will start in the bank’s London office in mid-July. Until now, responsibility for European par-loan trading has been held by Stephen Byrne, head of European distressed debt product and loan trading, to whom Saba will report.

The Province of British Columbia sold a rare C$100m ($104m) five year fixed rate note through TD Securities this week. It is its first offshore since March last year.

Erste Abwicklungsanstalt, the wind-down agency for WestLB’s unwanted assets, is finalising preparations for its Eu8bn global CP programme, and aims to launch it at the beginning of May.