Pre-migration untagged articles

Tuesday’s vigorous corporate bond issuance in euros, with five deals totalling €4.25bn, vindicated syndicate bankers’ claims that the underlying bid for corporate credit had remained strong, despite the jarring rates moves of the past six weeks.

Standard & Poor’s, which estimates that medium-sized companies across Europe will need to raise up to €3.5tr of debt over the next five years, has launched a new credit benchmark to increase non-bank lending to the sector.

Apax, the private equity firm, has closed its latest fund, having raised $7.5bn. It had originally sought to raise around €9bn ($11.8bn) to invest in the next four to five years.

Dealers of private EMTNs: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of < 365 days Dealers of private EMTNs including self-led: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers and issues with a term of < 365 days Dealers of structured EMTNs excluding self-led: Structured, non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, puttable FRNs and issues with a term of < 365 days

The SSA market loves an International Finance Facility for Immunisation (IFFIm) trade. Although a number of SSA issuers spend their money on public goods and socially beneficial investments, the chance to help children in the developing world to survive through vaccination programmes in so direct a fashion seems to have got under the skin of many in the market. With so much money chasing socially responsible investments (SRI), surely the sector is now more than just hype.

Communauté Urbaine de Strasbourg joined the growing band of French regions and local authorities in the private placement market on Tuesday, raising €65m with a 20 year note.

CDS: week’s biggest movers — Markit CDX North America investment grade index — Markit iTraxx Europe subordinated financials index — Markit iTraxx Europe senior financials index — Markit iTraxx SovX Western Europe index — Markit iTraxx Europe index — Markit iTraxx crossover index

AXA IS to invest up to €10bn into the infrastructure debt market over the next five years and has appointed AXA Real Estate to originate and manage its investments in the sector.

The Loan Market Association has named Crédit Agricole’s Jean-Francois Balay and UniCredit’s Mathias Noack as new members of its board.

Dealers of private EMTNs: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of < 365 days Dealers of private EMTNs including self-led: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers and issues with a term of < 365 days Dealers of structured EMTNs including self-led: Structured, non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, puttable FRNs and issues with a term of < 365 days

It looked to be a case of when Bernanke sneezes, the SSA dollar market ends up in intensive care when on Thursday yields went into freefall following Wednesday night’s unsurprising FOMC statement.

CDS: week’s biggest movers — Markit CDX North America investment grade index — Markit iTraxx Europe subordinated financials index — Markit iTraxx Europe senior financials index — Markit iTraxx SovX Western Europe index — Markit iTraxx Europe index — Markit iTraxx crossover index