European corporate bond issuance has resumed after a week-long hiatus, with Baker Hughes leading the charge through a four-part euro-denominated offering. The US oilfield services company is among four non-financial borrowers seeking to raise debt on Thursday, marking the first high-grade corporate deals since February 26, according to Bloomberg data.

Debt markets had ground to a near standstill following the outbreak of conflict in the Middle East, with only 11 billion euros ($12.8 billion) in syndicated sales over the past three days, primarily from sovereign issuers. The tentative return to activity comes as markets continue to swing amid the ongoing US-Israeli conflict with Iran, now entering its sixth day.

Other issuers joining the market include Ahold Delhaize, offering a two-year floating rate note and an eight-year green tranche, while Fidelity National Information Services follows up its dollar offering with a two-part euro sale. A regional German bank has also brought out a planned deal. Market participants remain cautious about the sustainability of this uptick, though a pre-conflict poll indicated a healthy pipeline of deals ready to launch once conditions improve.