Barclays

German electricity company RWE has sold €2bn of stock to fund its long term ambition to grow its renewable energy capacity, via one of the largest block trades this year.

KfW opened up a window for 10 year dollar bonds in the public sector market on Tuesday amid a rise in long-dated US Treasury yields with two more borrowers hoping to find similar success in the tenor on Wednesday.

Santander UK has been quick to price a new deal in the US dollar market after its results, making a saving over the funding levels on offer in euros or sterling.

Metals and mining firm Vedanta Resources’ $1.4bn bond this week took it one step closer to the planned delisting of a subsidiary. But the company took an unusual approach to the deal — a rare bond outing for a take-private in Asia — by offering investors a secured and callable amortising bond. Morgan Davis reports.

A sombre set of second quarter earnings has done little to frighten credit investors away from European banks this month. Fund managers believe the sector is well capitalised enough to withstand any reasonable shock from Covid-19, putting subordinated bonds in an ideal position to rally into the end of the year, writes Tyler Davies.

Soaring demand and tight spreads lured repeat borrowers as summer dollar bond supply soared with $34bn of new issuance crammed into four days.

As investment bankers got used to working from home in the first half of the year, many more whistleblowing cases were opened by the UK’s Financial Conduct Authority. Meanwhile, challenges around monitoring staff and forging a bank’s internal culture have not gone away just because the workforce is outside of the office.

The Inter-American Development Bank (IADB) broke the silence in the SSA market with a Canadian dollar sustainable development bond. The deal shared the market with a dollar trade from Kommuninvest, with both issuers steering clear of the almost dormant euro market.

Inter-American Development Bank will come to market for a Canadian dollar sustainable development bond on Thursday. The trade will share the market with a two year from Kommuninvest.

Redco Properties Group returned to the dollar market with a sub-one year bond on Tuesday, two weeks after using up its offshore issuance quota.

Chinese property developer Fantasia Holdings Group Co reopened a bond initially sold three years ago in a bid to lower its funding costs, taking $200m from the tap.

European banks will be subject to some of the Federal Reserve’s highest capital targets, after the US regulator switched to using stress test results as the main input for its requirements.