Barclays
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Barclays is building up sustainability coverage in its investment bank with new positions announced globally on Monday and effective immediately. -
Investors have been more than happy to buy into new additional tier ones (AT1s) this year, with a rise in spreads having minimised the risk that deals could be extended beyond their first call dates.
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Subordinated debt transactions in dollars from a trio of European banks left no doubts about the strength of the Yankee market this week. Bookrunners are encouraging issuers to execute trades in the asset class quickly, as they are unlikely to encounter better conditions before the end of this year, writes David Freitas.
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A pair of German sub-sovereigns had the primary public sector bond market to themselves this week, with each taking €500m at tight levels to their secondary curves.
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Chinese real estate borrowers swarmed the international bond market on Wednesday, raising a combined $1.05bn across four transactions.
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Barclays has following Credit Suisse in marketing additional tier one paper in dollars this week, bringing a deal on Wednesday that could be used to refinance an existing euro bond.
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The State of Brandenburg got over the line with a fully subscribed order book and a yield inside its curve on Tuesday, successfully avoiding the fate that its compatriot Berlin met at the tenor last week.
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Hyde Housing, a UK housing association, paid zero concession on its August 2055 sterling benchmark trade, with the borrower opting to raise debt at the shorter end of the maturity range it marketed to investors on Monday.
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The State of Brandenburg will keep the primary euro public sector bond market ticking on Tuesday after mandating banks for a new 20 year bond for which it hopes to achieve a better outcome than Berlin's deal at the tenor last week.
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Hyde Housing, a UK housing association, held an investor call on Monday for a long dated sterling benchmark-sized bond, with bankers assessing demand for high grade debt in the currency is at a high.
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UK lenders used the second quarter of 2020 to ramp up their provisions against loan losses, greatly exceeding the market’s already high expectations for new reserves
