Buehler made its bond market debut on Wednesday with a dual-tranche five and nine-year that tested the appetite of Swiss investors for Triple B rated paper.
Italian construction firm Astaldi’s €750m 7.125% senior unsecured 2020s plummeted further last week on confirmation of its financial and capital strengthening plans and a writedown of its Venezuelan assets.
A committee of the International Swaps and Derivatives Association ruled on Thursday that Venezuela and state-owned oil company PDVSA have formally defaulted on their bonds.
Constellium brought its senior unsecured long eight-year non-call three on the back of an equity injection, tightening pricing with an improved credit profile.
Philip Morris jumped in ahead of what is expected to be a busy week in the corporate market with a €1bn dual-tranche seven and 20-year trade last Friday.
The volume of outstanding over-the-counter derivatives jumped to US$542trn in the first half of the year, driven by increased demand for short-term interest rate contracts as the monetary policy outlook began to turn.