Barclays

Three public sector borrowers hit screens in sterling this week, including a rare floating rate note from the Province of Ontario, which made use of the currency for the first time in six years.

FMS Wertmanagement nipped into a quiet dollar market to print a three year Reg S only syndication, the issuer’s first dollar deal at that point of the curve to come through mid-swaps this year.

General Motors Financial Co made its first journey of the year to the euro bond market on Wednesday, issuing a €1bn four year floating rate note.

Brisa Concessão Rodoviária printed a €300m 10 year bond on Wednesday, extending its maturity curve to 2027.

A pair of European borrowers have ventured into the otherwise deserted dollar market, ahead of a Federal Reserve rates decision tonight.

Investors were rewarded handsomely if they bought into Barclays’ $2bn tier two on Tuesday, after the deal performed very well in the secondary market.

Global Ports Holding, the independent cruise port operator, has set the price range for its IPO on the London Stock Exchange.

Barclays’ global banking business saw a strong start to the year, but without the huge percentage increases seen at its peers. It’s the comparison quarter that made the difference — Barclays was stronger in the turbulent first quarter last year than many other investment banks.

The revival of sterling bond issuance powered ahead on Thursday, as Procter & Gamble brought a £750m deal that one banker said was “as rare as Halley’s Comet”. That coincided with a £1bn covered bond from Santander and a £400m debut from Martlet Homes.

On Thursday night, Nomura launched the sale of a 1.6% stake in Standard Chartered, the UK emerging markets-focused lender, through an accelerated bookbuild led by Barclays.

Misys has tinkered with the $5.35bn-equivalent loan package backing its acquisition of Canadian competitor D+H, with a banker on the deal saying the basis swap between dollars and euros was especially attractive to the issuer.

Indian power company NTPC sold its second Masala bond on Tuesday, hitting the market a day after the National Highways Authority of India (NHAI) kicked off a roadshow for its debut. With more state-owned companies expected to jump on the Masala bandwagon, the government’s efforts at boosting the market appear to be paying off, writes Morgan Davis.