Lloyds Bank
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UK grocer Tesco and US telecoms company Verizon both announced tender offers for some of their outstanding bonds in euros and sterling. Tesco is offering to buy up to £700m equivalent, while Verizon will confirm the size of its repurchase once it has sold new euro and sterling bonds.
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Lloyds Banking Group promoted three members of its senior commercial banking team this week.
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Sterling corporate bond investors had three tranches of property company debt to evaluate on Wednesday, as Segro issued a £750m 12 year and 20 year deal and Notting Hill Housing Trust a £400m 31 year.
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On Wednesday sterling corporate bond investors had to evaluate the three latest tranches from property companies as Segro sold a £750m 12 year and 20 year offering and Notting Hill Housing Trust brought a £400m 31 year deal.
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Sterling corporate bond investors had three tranches of property company debt to evaluate on Wednesday, as Segro issued a £750m 12 year and 20 year deal and Notting Hill Housing Trust a £400m 31 year.
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Northumbrian Water brought the first sterling corporate bond of the week when it announced a £300m 10 year deal on Thursday. It was almost a year to the day that it priced an identical deal.
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ING is planning to bring on a director of leveraged capital markets from Société Générale early next year.
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On Thursday, Northumbrian Water brought the first sterling corporate bond of the week when it announced a £300m 10 year deal. It is almost a year to the day that it priced an identical deal.
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The Bank of England Monetary Policy Committee meeting last week created a midweek pause in sterling issuance. However, once the meeting passed, Land Securities reopened the market with a £1bn pair of long dated tranches last Friday.
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UK housebuilder Miller Homes this week brought its first high yield deal, coming at a time when spreads on sterling bonds with speculative grade ratings have tightened more than 100bp so far this year.
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Order books for the dual tranche high yield bond deal from German pharmaceutical company, Stada, closed at noon on Thursday. Such was the demand for the secured tranche that the deal was was increased by €250m.
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Lloyds Bank issued its first Australian dollar bond through its senior holding company on Wednesday. As the Kangaroo market shows itself receptive to loss-absorbing products, bankers expect more financial institutions to diversify down under.