Barclays

The European Investment Bank left bankers cheering on Thursday as it found strong demand for the first long end sterling syndication from a supranational for several years.

Two of the most familiar names in the high yield borrower base on Wednesday launched a splash of payment-in-kind notes, a rare structure which has constituted only €570m of sales this year.

Transport infrastructure group Ferrovial on Wednesday returned to the bond market after a two year absence, selling a €500m note. It was followed later in the week by two other Spanish corporates.

SIG Combibloc, the Swiss packaging firm owned by Onex, launched its second repricing request on its leveraged buyout loans with a lender call scheduled for Thursday morning New York time, as replies were due on Armacell's own repricing.

Indonesian power producer Cikarang Listrindo slashed its funding costs and extended the maturity of its debt profile with a popular $550m 10 year note priced at a 4.96% coupon — setting a new benchmark for the country’s issuers.

The European Investment Bank has mandated banks to sell a bond in a part of the sterling curve that neither it nor any other supranational or non-UK agency has visited in three years.

WPP, the UK advertising and public relations firm, came to the sterling bond market on Wednesday for a £400m 30 year issue that included a novel choice of bookrunner.

Bank of Nova Scotia has issued the first sterling fixed rate covered bond since March 2015. The positive yielding five year tenor proved a more appropriate maturity than the prevailing 2026 slot which euro issuers have crowded into and the funding was cheaper than a five year dollar covered bond.

Advent International and Bain Capital this week completed their second block trade of shares in Worldpay, the UK payment services provider, since its IPO in October last year, raising £987m via an accelerated bookbuild.

Barclays has hired Tim Throsby, who is global head of equities at JP Morgan, to two senior roles, as chief executive of the corporate and investment bank, and president of Barclays corporate and international. Throsby will take up the posts in January, subject to regulatory approval.

Unione di Banche Italiane’s (UBI) €1bn 10 year Obbligazioni Bancarie Garantite was priced tighter than UniCredit’s €1bn 10 year and well through BTPs, though it relied more heavily on domestic buyers.

FTSE 250 bus and rail company Go-Ahead has signed a £200m bridge loan to insure against execution risk when it comes to refinance a sterling bond. A number of investment grade companies have been exercising precautionary liquidity management of late, said one banker in London.