UBS

The US FIG market returned to normality after the deluge of the previous week’s supply subsided.

Aareal Bank capitalised on the momentum created by the two successful French deals issued through mid-swaps on Monday and Tuesday by bringing forward plans to issue a euro-denominated Pfandbrief. It opened books on a three year deal on Wednesday rather than waiting until next week.

Metropolitan Life hit screens with a trio of senior unsecured deals on Wednesday morning, looking to print in euros, Australian dollars and Swiss francs. Strong appetite for insurance company paper helped assure it of a warm reception for its euro and Aussie deals, with the francs yet to conclude.

Poland made a rare visit to the Swiss franc market this week, printing a seven year bond — its first issue in the currency since 2012 — that offered no concession to its Swiss franc curve. Despite this, bankers are not preparing for a rush of sovereign, supranational or agency issuance in the currency in the coming weeks as issuers can fund at very attractive levels in euros and moves in the euro/Swiss franc basis swap are stymieing issuance opportunities for euro-funders.

Allianz continued a strong run of deals for insurers on Thursday, drawing a large order book for a perpetual trade. Attractive levels compared to bank bonds are driving the trades, according to syndicate managers.

The investment grade market was a story of the haves and have-nots as investors showed signs of fatigue amid a deluge of supply.

Powerlong Real Estate Holdings finally succeeded in tapping the dim sum market this week, raising Rmb1.5bn ($244m) via a 10.75% 2017 note on September 10. This was the issuer’s second attempt at a bond this year, having failed to price one in January.

Australian gaming products company Aristocrat Leisure plans to market its $1.3bn seven year senior secured term loan to US investors. The company is raising the money to fund its acquisition of US gaming operator Video Gaming Technologies and to refinance debt.

Rob Ellison will join the UK bank as head of global banks, reporting to Ed Thurman, head of financial institutions relationship management.

Corialis, the Belgian aluminium products group, launched its €483m acquisition loan on Tuesday afternoon and will market the deal at a bank meeting on Thursday.

Poland printed a seven year Swiss franc deal on Wednesday. The issuer visited the market — its first time since May 2012 — to refinance a five year bond in the currency set to redeem later this month, according to bankers in Zurich.

Metropolitan Life hit screens with a trio of senior unsecured deals on Wednesday morning, looking to print in euros, Australian dollars and Swiss francs. Strong appetite for insurance company paper is expected to assure the issuer of a warm reception for its trio of deals.