Barclays
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Oesterreichische Kontrollbank this week became the latest public sector borrower to return to the sterling market after a lengthy absence — and was rewarded with its largest ever issue in the currency at £350m. -
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The stampede by corporate dollar issuers continued into a second consecutive week with Italian energy giant Enel printing the largest ever deal by an Italian corporate in the US investment grade market, and the second biggest Yankee deal of 2017.
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A group of private equity firms have joined forces to merge UK insurance broker Towergate and four peers into a new industry player called Kirs, and this week launched a £800m bond to back the move.
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UK corporates are preparing for the large UK banks to bring down their ring-fences, a move that could shake up the banking landscape and push more corporates to sign credit support annexes with their banks.
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United Bank for Africa (UBA) became the second Nigerian bank this week to announce its intention to raise senior funding, and with Zenith Bank proving that demand for the Nigerian financial sector is rife, bankers expect the trade to go well.
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Higher beta corporate borrowers have shone this week to print eight bonds totalling €5bn, as investors were happy to fill their boots on cheaper paper after weeks of jumbo multi-tranche double-A rated bond issuance.
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Caisse des Dépôts et Consignations looks likely to be the latest public sector borrower to return to the sterling market after a long absence, after it hired banks to hold investor meetings next week.
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UK airport Heathrow landed orders for more than five times its £250m offering on Wednesday, in a week with less than €500m of new paper in sterling and euros in the high yield bond market.
