Barclays
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Richard Taylor is stepping down from his role at Barclays, after an eight year stint at its investment bank. -
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The State of North Rhine Westphalia was flooded with demand for its 30 year euro benchmark this week as investors braced themselves for the European Central Bank’s meeting on Thursday, in which it laid down the groundwork for a rate cut in September and additional quantitative easing.
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As the market prepares for Libors to end their run as the world’s most prevalent reference rates, there is growing support for the benchmarks to be reprieved.
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Drax Group, the UK electricity generator, has sold £375m of US private placement debt, alongside a £125m environmental, social and governance facililty to repay a bridge loan used to fund its acquisition of Scottish Power Generation.
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An acquisition of British pub giant Ei Group by its smaller competitor Stonegate is about to trigger a clause that allows Ei Group to redeem £1bn of its senior secured bonds at par. Secured bondholders will likely have to swallow a pint of bitter if the sponsor behind the deal does not budge.
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The State of North Rhine Westphalia was flooded with demand for its 30 year euro benchmark on Tuesday as investors braced for the European Central Bank's meeting on Thursday, in which it is expected to lay the groundwork for a rate cut in September.
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Forth Ports, the port operator headquartered in Edinburgh, has sold roughly £300m-equivalent of US private placements (PPs).
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A cavalcade of “familiar names” have come to the market over the last week. SSAs, corporates and FIG issuers printed across the euro curve, while a trio of supranationals were also active in emerging market currencies.
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Greenko Energy Holdings found ample support for its $950m dual-tranche bond, thanks in part to the duration it offered investors, as well as the positive sentiment surrounding India.
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The State of North Rhine Westphalia mandated banks on Monday for a 30 year euro benchmark, ahead of a highly anticipated European Central Bank meeting later in the week, in which analysts expect the central bank to hint at a rate cut in September.
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Rural Electrification Corp took advantage of strong demand for Indian credits this week, raising $650m despite paying a negligible new issue premium.
