RBC Capital Markets

The Council of Europe Development Bank (CEB) took advantage of a strong market on Wednesday to issue its first ever benchmark transaction for pre-funding purposes.

Caisse d’Amortissement de la Dette Sociale (Cades) will add a new point on its dollar social bond curve with a 10 year trade on Wednesday, where it will be joined by two other public sector issuers in the currency.

Enel, the Italian power and gas company, is set to push the nascent sustainability-linked bond market to a new currency this week after the company mandated for the first deal in the format in sterling.

Tesco, the UK grocer, has refinanced its sterling facility with a £2.5bn sustainability-linked deal that uses risk-free rates as a benchmark, as companies try to get to grips with the end of Libor.

Ronald Hinterkircher, Raiffeisen Schweiz’s current co-head of capital markets in Zurich, is set to retire next month after over 40 years in the capital markets.

Risk appetite has returned to the high grade corporate bond market, with UK airport Heathrow and US drinks firm PepsiCo managing to move spreads by around 45bp during execution.

A record month for US mergers and acquisitions will fail to boost the dollar corporate bond market, as bankers predict a sharp slowdown in activity in the fourth quarter.

Two borrowers visited the long end of the dollar curve this week and while both completed their deals successfully, investors clearly displayed more appetite for the higher yielding of the pair.

Asian Development Bank and the Province of Ontario hit the dollar market on Tuesday, with both issuers tapping the tricky 10 year part of the curve ahead of the start of public holidays in Asia this week which will put a pause on issuance in the currency.

Ontario Teachers’ Finance Trust made a convincing statement as it hit the dollar bond market on Thursday with new three and 10 year notes that were tightly priced and had record order books.

Swedish Export Credit Corporation took full advantage of the quiet SSA market to print a three year dollar benchmark on Wednesday. Ontario Teachers Finance Trust is set to follow on Thursday.

Delta Air Lines raised $6bn this week, joining the September stampede by companies to plug their bank accounts and lock in cheap funding.