Barclays

Scarcity value helped German media group Bertelsmann attract more than €2bn of demand for a new 10 year benchmark on Wednesday.

Although this week’s primary covered bond supply was limited to three deals and the near term outlook is limited by AQR results and Q3 reporting blackouts, demand reached a substantial €5.4bn of orders. Notable activity included the first public sector issue under Belgium’s covered bond law and the tightest ever Canadian euro print.

Abbey National returned to the sterling senior unsecured market for the first time since 2010 this week. Although the market had softened, the Santander-owned UK bank’s 15 year deal performed well.

As syndicated loan volumes in central and eastern Europe dwindled in the first nine months of the year, hit by conflict in Ukraine and sanctions on Russian banks and energy companies, Standard Chartered has emerged at the top of the bookrunner league tables.

Czech Raiffeisenbank has mandated leads for the first publicly distributed euro-denominated benchmark Czech covered bond, which is expected to be launched following a roadshow. The transaction, which is eligible for repo with the European Central Bank and documented under English law, is likely to be followed by a string of other euro denominated Czech covered bond benchmarks.

German styrenics supplier Styrolution held a London bank meeting on Tuesday for a €1.05bn-equivalent five year term loan ‘B’, which marks the company’s return to the market after pulling a larger facility in the summer.

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Unibail-Rodamco, the French property company, achieved tight pricing on its latest eight year euro issue thanks to strong demand from across continental Europe.

Bertelsmann, the German media group, made a rare return to the bond market on Wednesday with a new 10 year benchmark.

As syndicated loan volumes in central and eastern Europe dwindled in the first nine months of the year, hit by conflict in Ukraine and sanctions on Russian banks and energy companies, Standard Chartered has emerged at the top of the bookrunner league tables.

German styrenics supplier Styrolution held a London bank meeting on Tuesday for a €1.05bn-equivalent five year term loan ‘B’, which marks the company’s return to the market after pulling a larger facility during summer.

Abbey National returned to the sterling market in senior for the first time since 2010, printing a long-dated deal that was snapped up by investors amid a dearth of senior supply.