Barclays
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The UK Debt Management Office on Friday announced the syndicate that will run its forthcoming tap of the 2054 Gilt, as well as its plans for a further Gilt syndication to be held during the third quarter of 2019. -
MEA-based waste management services provider Averda has amended and extended an existing term loan facility, garnering 70% oversubscription.
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Europe’s corporate bond market has made a remarkably strong start to the autumn issuing season, with €14bn of euro and sterling issuance in the first two open days for issuance (Tuesday and Wednesday) and another €1.5bn on Thursday.
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SSA dollar deals printed this week ground tighter in the secondary market on Thursday, despite the notes coming within a hair’s width of US sovereign debt.
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The hail of issuance in European corporate bonds continued at full pelt on Wednesday as Orange and National Grid joined the fray with multi-tranche deals. Investors and issuers seem equally eager to do business.
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Demand for the Republic of Finland’s latest bond was high on Wednesday as it printed through the ECB deposit rate to sell “the most expensive syndication of all time”, according to a banker on the deal. The five year note came 29.9bp richer than Austria’s previous record holding deal, another five year note sold in June.
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SSA issuers were out in the dollar market with $7bn of new bonds on Wednesday, though the biggest of the deals highlighted how price sensitive investors were in a world where some yield curves have inverted.
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Europe's corporate bond market opened emphatically for business on Tuesday, as seven issuers banished all memories of the summer holiday. Despite there being plenty of choice for investors, demand was high across the board. Multiple deals were two to three times oversubscribed, while the largest, a €3.5bn four trancher from Siemens, the machinery maker, was nearly 4.5 times covered.
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The dollar SSA market has started the short week on the front foot, with a trio of trades hitting screens on Tuesday.
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