Barclays

Pricing has been widened on the £300m sterling cov-lite loan backing Clayton, Dubilier & Rice’s acquisition of Motor Fuel Group, the UK petrol station forecourt operator.

Holidaying investors and less than ideal market conditions proved no obstacle for three European banks which took orders just shy of $40bn to sell $6.35bn of additional tier one (AT1) debt in four sessions.

Barclays' investment bank is putting up the numbers for a new chairman who seems more supportive of the strategy than the ousted Antony Jenkins, writes David Rothnie.

ICICI Bank had a fantastic outcome to its first US dollar issuance of the year, raising $500m this week with no new issue concession and even getting the seal of approval from bankers away from the deal.

Public sector issuers should hit the market hard later this month — no matter when they expect a US rate rise, said sovereign, supranational and agency bankers.

ICICI Bank is back for more dollars for a new five year bond on August 5, its first outing in 2015.

More German Laender could look to print in euros after an encouraging show from investors for a four year syndication from Lower Saxony on Tuesday.

Barclays was on track to print its first standalone sterling AT1 inside 8% after pulling in more than £3bn of demand on Tuesday morning.

Chinese banks now hold four of the top five spots in SNL Financial’s ranking of the world’s largest banks, while Europe’s global footprint is shrinking.

Northgate, the UK van hire firm, has reduced its flagship bank facility and replaced the financing with a €100m private placement from Pricoa Capital.

The European Investment Bank added another deal to its recent burst of issuance in euros on Monday, as a German state mandated banks for a €500m August 2019 deal.

Barclays is lining up a sterling denominated additional tier one as the primary market stays alive into August.