Banks
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UK banks jumped back into the bond market this week, enjoying good demand for their funding and capital products. But with the country’s financial institutions having loaded up heavily on debt already, and with political instability causing near constant volatility within the sector, some market participants wonder whether investors have had all the UK FIG bonds they can stand. Tyler Davies and Bill Thornhill report. -
Iceland returned to the euro market on Thursday, bringing a €500m five year issue in its first outing since December 2017.
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The Inter-American Development Bank this week capitalised on a dearth of supply at the 10 year point of the curve to print its second dollar benchmark of the year.
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BNP Paribas has hired a banker from SMBC to fill the vacant position of head of US private placements.
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Three SSA borrowers issued a total of £200m ($255m) of medium-term notes in response to an inquiry for three year non-call one fixed rate sterling bonds on Tuesday — which probably all sold to the same buyer — amid an uptick of paper in the currency.
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Bank of Montreal (BMO) has issued the first Canadian covered bond in dollars this year, raising $1.75bn of funding at a cost that was equivalent to what it would have theoretically paid in the euro market. National Bank of Canada was quick to follow, announcing a similar deal at the same starting spread.
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The European Investment Bank printed a €3bn 10 year trade on Thursday, dragging the pricing in by 2bp during execution.
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After establishing itself as a top three player in European investment banking, Citi is now making an ambitious push for the summit in its home market, writes David Rothnie.
