Nomura

Bajaj Finance, an Indian non-bank financial company, raised Rp84.6bn ($1.2bn) this week, closing a qualified institutional placement that defied the challenges facing the sector.

The Province of Alberta came to market on Tuesday for a five year dollar global bond, paving the way for the Swedish Export Credit Corporation (SEK), which announced that it will hit the three year bucket on Wednesday.

Royal Bank of Scotland is preparing to sell its first social senior bond from its holding company, giving investors a rare chance to add exposure to a UK issuer in the format.

Spanish banks are using strong market conditions to their advantage towards the start of November, with Banco de Sabadell completing its annual funding plans this week and UniCaja Banco getting ready to launch its debut tier two transaction.

Three Chinese real estate developers came to the bond market on Tuesday, raising a combined $1.25bn.

Wholesale revenue increased in Nomura for Europe, the Middle East and Africa in the most recent quarter, the bank said on Tuesday, helped by a sturdy rates business.

Banco de Sabadell completed its annual funding plan on Tuesday with a €500m preferred senior bond, adding a call option to the transaction in a clear sign that it is likely to be used as part of the minimum requirement for own funds and eligible liabilities (MREL).

Rating: Aa1//AAA

The short end of the euro curve is becoming the new sweet spot for public sector borrowers, according to SSA bankers, despite the deeply negative yields in these maturities. The European Stability Mechanism (ESM), Instituto de Crédito Oficial (Ico) and Investitionsbank Berlin (IBB) are all enjoying strong outings with three or five year tenors this week.

The European Stability Mechanism completed its funding year with a blow-out €3.5bn five year bond on Tuesday, which paid a minimal new issue concession at the final spread.

The European Stability Mechanism has chosen a five year tenor to kick off its funding for the fourth quarter. Meanwhile, a French public sector agency is out with its debut sustainable benchmark bond.

Paolo Cicchine will join Deutsche Bank as vice-chairman of global healthcare coverage.