Santander

Vallourec’s €480m rescue rights issue is heading for a successful conclusion on Friday April 22, bankers working on it said this week.

Tightening pricing to well inside what many market participants had expected did not prevent Argentina holding onto the bulk of its $69bn book and printing more bonds than it had planned on Tuesday in one of the most remarkable trades in recent memory.

Carrefour, the French hypermarket chain, issued a €750m bond on Tuesday, in a market enthusiastic for corporate debt.

Argentina could hardly have asked for more from Monday’s book building for its return to international bond markets as investors rushed into the largest ever order book for an emerging markets deal.

Several of Europe’s IPOs moved forward today, with coverage and pricing updates and the launches of bookbuilds.

The head of Santander’s FIG DCM origination for UK and Nordic borrowers has left the bank after nearly nine years.

Argentina is set for an emphatic return to international bond markets next week after a 15 year absence. It is set to be the most exciting turnaround story in emerging markets, said investors. But the country’s capital market rebirth will depend upon triumphant deal execution, writes Oliver West.

US Circuit judge Christopher Droney removed the final obstacle in Argentina’s path to markets on Wednesday, provoking a rally in the government’s that could scarcely have been better timed.

Banks are shrinking, the industry is shrinking, and big splashy hires are a thing of the past. So when a senior FIG banker, in a secure seat, at a solid institution jumps ship, there’s a mystery afoot.

Red Eléctrica de España, the Spanish transmission company, came to the bond market for a modest amount of debt on Thursday with tight results, as it bagged a negative new issue premium.

Telefónica hit the European bond market on Wednesday for a €2.75bn dual tranche deal that drew hefty demand, but later widened in secondary.

AkzoNobel, the Dutch paints, coatings and chemicals company, issued a €500m 10 year bond last Friday that achieved a deeply negative new issue premium, as investors piled in ahead of the European Central Bank’s expected corporate bond buying programme.