Barclays
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Having visited the euro market last week, Nestlé has bounced quickly into sterling, finding solid demand for a £1bn dual tranche trade on Wednesday. -
ANZ dropped into the sterling market this week in search of tier two paper, which will help it meet its total loss-absorbing capacity (TLAC) requirements. With the TLAC deadline fast approaching, Australian firms are expected to make use of the attractive funding conditions to ramp up their subordinated issuance.
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Having visited the euro market last week, Nestlé has bounced quickly into sterling, finding solid demand for a £1bn dual tranche trade on Wednesday.
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ANZ was the latest name to throw its hat into the sterling subordinated ring as it ended a nine year absence from the currency with a new tier two capital issue.
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Lloyds Banking Group became the latest name to wade into a rampant subordinated sterling market this week, pricing a £500m tier two note on top of fair value.
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Mondi, a UK packaging and paper company, has signed a €750m revolving sustainability-linked facility, days after completing an acquisition of a Turkish packaging firm.
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Two Chinese real estate companies sold sub-one year bonds on Thursday, raising $350m between them.
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Supply was light in the US corporate bond market this week, partly because the May non-farm payrolls report is due on Friday. Participants are braced for volatility after the US Federal Reserve announced on Wednesday it would start selling its holdings of corporate bonds, purchased as a stimulus measure at the height of the pandemic. It was left to Vodafone of the UK to reopen new issuance after the Memorial Day holiday.
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Barclays found strong demand at competitive pricing levels in the yen market this week, eschewing the Samurai format in favour of issuing with a swifter Euroyen process.
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The Council of Europe Development bank will come to market on Thursday for a $500m no-grow social inclusion bond maturing in June 2024.
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Commodities brokerage Marex Group has opened the books on its £100m plus IPO on the London Stock Exchange.
