Lloyds Bank
-
Nationwide Building Society said this week that it was looking to reduce the size of 11 of its euro and sterling covered bonds through a tender offer, in an effort to optimise its funding and liquidity position. -
-
The UK Debt Management Office raised £8bn ($10.24bn) with its first 15 year syndication on Tuesday morning, the first of two Gilt syndications it will hold during September.
-
Shell, the oil and gas major, visited the sterling bond market for the first time for around six years on Thursday, printing £1bn of long maturity debt and creating a curve out to 2052.
-
Virgin Money UK tested the strength of the sterling market this week by looking to raise tier two debt. The UK lender was able to tighten pricing by 50bp and print inside fair value, and the new trade accompanied a tender offer of the issuer’s old securities.
-
The UK Debt Management Office has chosen the banks to lead the first ever 15 year Gilt to be sold via syndication, which will hit the market next week
-
ABN Amro has become the 18th bank to call an additional tier one (AT1) in 2020, as refinancing conditions continue to improve, despite the impact of the coronavirus pandemic.
-
Lloyds has bought back a small amount of sterling covered bonds on a bi-lateral basis. Most investors that wanted to hand back bonds will have already done so in its previous public tender offer.
-
Platform Housing Group, a UK social housing firm, got chunky demand from the sterling market on Wednesday, with the borrower benefitting from a dearth of deals in the currency.
-
Platform Housing Group, a UK social housing company, has mandated for a long term sterling benchmark trade, with the company borrowing as it takes on a major development plan.
-
Lok'nStore, the UK self-storage company, has activated a clause on its £75m revolving credit facility to extend the deal by another year, as UK loans bankers say there has been a flurry of smaller sterling deals in recent weeks.
-
Coventry Building Society (CBS) is racing to price Economic Master Issuer 2020–1, with the help of arrangers HSBC and Lloyds, to meet the huge demand for the deal, which is a hybrid between a master trust structure and a standalone RMBS — the first of its kind. The transaction, set to herald the next step in master issuer structures, is an innovation which could open the door to more financial institutions committing to long-term RMBS programmes, writes Tom Brown.
