Barclays

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.

Singapore-listed Frasers Centrepoint (FCL), which raised a £300m ($468.5m) five year loan from Barclays, BNP Paribas and Standard Chartered to fund the acquisition of boutique hotel chain Malmaison Hotel du Vin, has opened the loan into wider syndication.

Bond market participants were left pondering whether the sell-off in Brazilian assets had been exaggerated after a negative outlook from Standard & Poor’s triggered a rally and stabilisation in credit spreads in the country.

IBM and National Grid North America both took to the sterling market to sell tightly priced deals this week, showing there is arbitrage on offer for dollar funders — though both issuers kept their deals small.

Covered bond new issue premiums fell this week as six issuers raised a collective €5.5bn in three currencies with total demand of almost €8bn.

Canadian online poker platform Amaya has launched a $400m refinancing loan that will in part pay down debt incurred to acquire two rivals last year.

IBM dipped into the sterling market on Wednesday for a small but sharply priced seven year print. While some expected a larger deal size than £300m, they agreed that the deal was a positive sign for a market that has seen declining supply in 2015.

Barclays investment bank revenues held firm in the second quarter, helping the bank post a strong set of results that sent its share price up on Wednesday.