Barclays
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Although investors want sterling risk, issuers are not queueing up to issue -
Pent-up demand for first sterling covered deal in three months fuelled the tight outcome
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£500m no-grow trade the first in sterling for three months
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Supra has already completed 44% of its borrowing by the end of February
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◆ Markets plead for regs pause ◆ Barclays' new strategy ◆ Middle East ECM to take it up a gear
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Venkat wants to generate higher returns in investment banking without increasing its capital
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Second largest book on record for the issuer after a 10 year it priced in March 2021
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Both names drew large oversubscriptions despite bringing similar trades
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The UK bank has been under pressure to lift its share price performance
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The sector’s tight valuation versus the likes of KfW is capping demand
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Issuer pushes spread tighter than recent deals from peers
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Multilateral development banks embark on learning curve of ‘extremely useful and powerful’ instrument
