Barclays

Spain, fresh from its success with a 10 year benchmark on Tuesday, is eyeing a return to the long end of the syndicated inflation linker market towards the end of the year.

Barclays has hired from Bank of America Merrill Lynch and also promoted two others to lead the digitisation of its markets business.

When 16 banks recently conducted a pilot study on how to analyse climate change risks on their balance sheets, they only published three case studies, and only one bank, Barclays, was willing to put its name to its study.

Two euro borrowers launched benchmarks on Wednesday, sharing the SSA euro market. While both secured successful deals, one found the market tougher going, as investors pushed back.

A pair of borrowers have hit screens for euro benchmarks to be sold during Tuesday’s session, but another nipped in ahead of the rush to price on Monday.

Speciality chemicals maker Synthomer and hotel group Radisson Hospitality began roadshows for debut high yield bond offerings in the European market this week, undaunted by recent investor pushback. Meanwhile, Smurfit Kappa, the packaging group, added LBO funding to the high yield pipeline.

The UK’s Synthomer plans to raise €600m through a revolving credit facility and privately placed notes, as the unrated chemicals company looks to refinance existing bank debt early.

Barclays has named Steve Ewart chief financial officer for Barclays Bank plc, the group company that now houses the CIB division, Barclaycard, and the private bank and overseas services, subject to regulatory approval. The firm also named Steve Penketh COO for Barclays International earlier this year.

The Loan Market Association has recruited a trio of loan market stalwarts to its board after its AGM this week. MUFG’s Mathias Noack has retained his place as chairman.

The market for equity block trades in EMEA has lost some of its shine, with volumes down on last year, and a string of failed trades. This poor performance is in stark contrast to a resurgent IPO market, which in the last two weeks has generated strong returns for investors.

French toll road operator Autouroutes du Sud de la France kept up the positive tone in the IG corporate bond market with a 10 year deal on Thursday, which it was able to increase in size and price with a single digit new issue premium.

Barclays has regained its mojo in corporate finance, after a period of drift. But with a flagging share price and an activist investor snapping at its heels, it's a race against time, writes David Rothnie.