Barclays
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The UK Debt Management Office again broke a couple of syndication records as it extended the Gilt curve on Tuesday, but onlooking bankers felt the real story was how the underlying Gilt curve behaved through the deal. -
The euro market got off to a fine start this week as a supranational rarely seen in euros appeared at five years and a mainstay of the market pulled off another successful trade. But later in the week, cracks began to show.
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Keurig Green Mountain enjoyed the best of dollar bond market conditions as investors drank deep before a spike in US Treasury rates sent borrowers scurrying to the sidelines.
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German chemicals company BASF found substantial demand for its second visit to the corporate bond market to fund its acquisition of Bayer’s seed business.
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A pair of euro borrowers hit screens at the short end of the euro curve on Thursday, but both failed to reach full subscription.
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The UK’s Low & Bonar has signed a new €165m five year revolving credit facility, refinancing early a same sized revolver that was due to mature in July next year.
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Foreign banks operating in the US could be allowed a more flexible funding structure, according to Randall Quarles, Federal Reserve vice-chairman for supervision. It could lower the cost of trapping liquidity and capital instruments in the intermediate holding companies (IHCs) they had to set up to keep operating in the US.
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UK child goods retailer Mothercare revealed a wide scale restructuring and refinancing plan on Thursday, in which it will take up to £113.5m of funding from debt and new equity.
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Two Qatari banks raised new debt in different formats on Thursday, proving that Qatari banks have a multitude of funding options available to them.
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Barclays has made another stride in the regrowth of its markets business, rehiring a derivatives trader for a senior role in its equities division.
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The African Development Bank sold its second social bond on Wednesday, more than doubling the size of its debut effort and pushing out its maturity curve. The Basque Government will follow the supranational with an inaugural sustainable bond.
