Barclays
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BPCE returned to the public sterling market after a year away this week to issue the first offshore financial bond in about a fortnight. -
Barclays gave euro investors a rare chance to buy UK bank capital on Monday, as the issuer selected the currency for its second tier two of the year. Its €1bn transaction was four times subscribed at final terms.
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Paragon Banking Group is looking to issue a new debt capital instrument in green format, while at the same time offering holders of its existing tier twos a chance to exchange their bonds for cash.
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Hannover Re was able to price a new tier two through fair value on Monday, with analysts expecting the issuer to use its new bond to fund growth opportunities.
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Volksbank Wien sold its first non-preferred senior deal on Friday, after a week of discussions with investors. The deal benefitted from a stronger tone in the euro market as investors reacted well to the latest meeting of the European Central Bank.
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Any fears about the resilience of the US corporate bond market were set aside on Thursday when Verizon Communications amassed a $115bn orderbook and printed one of the biggest deals of the year.
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NRW.Bank became the latest non-UK public sector borrower to hit the sterling market this week, taking advantage of the attractive funding cost in the currency versus euros and US dollars.
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Tricor Holdings is planning a return to the loan market to refinance a HK$2.8bn ($360m) borrowing it sealed in 2016 for a leveraged buyout by investment firm Permira.
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NRW.Bank will be the next public sector borrower to hit the sterling market following an improved funding cost in the currency versus euros and dollars.
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The financial primary market paused on Wednesday. Despite euro borrowers enjoying oversubscribed order books this week, demand in the secondary market is lagging behind, as investors await further rises in yields.
