Banks
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Ryanair, the Irish budget airline, landed a far more solid bond issue this week than shopping centre operator Unibail-Rodamco-Westfield (URW) had a day earlier, in an early indication of what the bond market might look like as the worst-hit sectors recover from the coronavirus pandemic. -
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The World Bank failed to impress as it sold a five year dollar benchmark this week, with the issuer and leads attributing the lack of appetite to the tight reoffer leveland the unusual maturity.
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Large European banks shifted their funding focus to the dollar market this week, printing stunning deals as the euro market showed it was more sensitive to signs of tighter monetary policy. Tyler Davies reports.
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Barclays is aiming to bring its continental European corporate finance business in line with its strength in the UK and North America after receiving a resounding vindication of its strategy, writes David Rothnie.
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Wemag, a state-owned electricity firm in Germany, has launched a 10 year Schuldschein through NordLB’s digital platform, Finpair. Wemag follows two Austrian utilities in supplying deals at a longer tenor.
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Europe’s high grade corporate bond issuers had a second tough day running on Thursday, as secondary spreads inched wider and investors proved lukewarm to new issuance.
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SMBC Nikko has hired Markus Steilen as managing director and head of continental European debt syndicate, based in Frankfurt. Steve Apted remains head of syndicate in London.
