Société Générale

There were no problems with competing supply as a trio of public sector borrowers enjoyed strong demand for dollar bonds this week, despite all three having the same maturity.

Russian pipe manufacturer Chelyabinsk Pipe Plant on Thursday sold one of the tightest ever Russian debut bonds, according to a lead manager on the note.

A pair of Eastern European corporate borrowers are in the market for dollar paper on Thursday, taking advantage of excellent market conditions to secure cheap funding.

The sustainability-linked bond issued by Enel on Thursday opens a new chapter in the green finance market. Anyone tempted to think this will be a freak should think again. The idea is sure to catch on.

Corporate bond issuance in euros was busy again on Tuesday, with four deals, but they were moderately sized, so the total was nothing like Monday's haul of €6bn and £1.25bn.

KfW won huge praise from on-looking bankers for a curve extending and rare 10 year dollar green bond on Tuesday. The Inter-American Development Bank (IADB) and Österreichische Kontrollbank (OeKB) also enjoyed success in the dollar primary market with three year trades, with the former selling its debut Sofr-linked floating rate note.

The first deal of the September rush set an impressive bar for a rush of borrowing from its peers in the commodities sector. Russia's Severstal pulled off an $800m five year bond priced flat to its curve, achieving the lowest yield ever for a corporate from the region.

Corporate bond issuers made full use of the last few days before the European Central Bank's much-anticipated announcement on monetary policy on Thursday. Despite the hectic activity of the past two weeks, investors were still oversubscribing deals two or three times.

Severstal, a Russian steel manufacturer, hit screens on Monday morning with a five year dollar benchmark.

A new sustainable finance product, which has the potential for huge growth, was launched on Thursday when Enel, the Italian electricity and gas company, issued the first bond in which the interest rate can be altered during the term of the debt, based on the borrower’s sustainability performance.

Arié Boleslawski has joined Natixis to run its equities business.

Thirty year maturities, normally very rare in the euro corporate bond market, have become remarkably popular since the dive in base rates earlier in the summer. In the past 10 days, four multi-tranche deals have been printed that included 30 years, as issuers rushed to take advantage of the exceptional conditions before the European Central Bank monetary policy meeting on September 12.