Barclays
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A pair of issuers were able to access sterling in size this week as European investors increasingly seek to buy in the currency.
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Three euro benchmark covered bonds were issued this week from borrowers in Belgium, Norway and the Netherlands. But it was the debut Dutch conditional pass through (CPT) structure from Van Lanschot Bankiers that proved the most interesting.
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Nationwide Building Society and ASB Bank tapped the senior unsecured sterling market this week, bringing what are likely to be among the last trades in the currency before a break before the UK general election.
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Klöckner Pentaplast, the German plastic packaging maker, has closed books on a €881m loan, increased by €50m, after hitting its advanced deadline for commitments with a bang.
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Iglo, the foods company that has been sold by Permira to a London-listed special purpose acquisition company, is asking lenders on a €1.2bn loan to consent to the change in control.
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Turkish banks finally look set to become part of the covered bond market this year as Akbank lines up its first euro-denominated benchmark.
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US plastics manufacturer Trinseo on Thursday priced $700m of senior unsecured bonds in dollars and euros, saving at least 200bp compared with the interest on the 8.75% bond the company wants to repay.
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Nationwide hit the sterling market for a seven year print on Thursday, selling what some bankers reckon could be the last senior sterling before the UK’s general election.
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Binhai Investment Company is on the road this week, having mandated four banks to prepare its maiden dollar issue.
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World Bank wound through the pricing gears to sell a large three year dollar benchmark on Wednesday.
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Barclays has appointed new management for its EMEA investment banking business, promoting Crispin Osborne and Sam Dean to co-heads, and Makram Azar to chairman.