Barclays
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A hotly anticipated day of two central bank meetings failed to disrupt another good week for public sector borrowers in the dollar market, although the outcome of one of the meetings could have consequences for demand in the longer term, bankers warned. -
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US car rental provider Avis this week followed rival Hertz to the euro market and sold a €300m bond, increasing the deal from its initially marketed size.
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Three UK property investment companies have turned to private debt markets in recent weeks for long term funding. Despite the compressed spreads in the public sterling bond market, the PP market continues to have loyal adherents.
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The Cover’s 10th annual covered bond awards took place this year at the Rheinterrace in Düsseldorf on Thursday, September 15.
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The Community of Madrid on Wednesday priced a eight year euro syndication fractionally inside the Italian sovereign curve.
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Spanish online travel agency eDreams increased the size of its bond to €435m on Tuesday, a deal which investors struggled to find comparables for.
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Barclays launched a tender offer for up to £1.7bn of its outstanding subordinated debt this week, as the bank extends a strong and rapid drive towards a holding company funding model.
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Latin American development bank Corporación Andina de Fomento issued its longest dollar benchmark bond since 2012 on Tuesday, sneaking in before a Federal Reserve meeting and press conference to raise $1bn of five year bonds.
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Nordic Investment Bank brought the tightest dollar benchmark from a public sector borrower in over a year on Tuesday, while the State of North Rhine-Westphalia was also able to grind in pricing with a dollar deal of its own.
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SIG Combibloc allocated its $2.37bn equivalent deal on Thursday in a repricing deal that surprised some investors.
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After a storming run of issuance, with eight deals in the market last week, high yield deal flow has slowed but not stuttered as Fnac, eDreams and MCS all roadshow potential deals.
