Lloyds Bank
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The European high yield bond pipeline this week brought €1bn of single-B rated offerings in euros and sterling from new issuers, giving hope to those working for a bigger borrower base for the market. -
Ineos, the Anglo-Swiss chemicals manufacturer, cut costs on its term loans for the second time this year on Tuesday, after S&P joined Moody's in upgrading the rating of the new facility on Monday.
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French car hire group Europcar opened the high yield bond primary market on Monday with new debt to fund the acquisition of Spanish peer Goldcar, demonstrating how little investors are worrying about the escalating crisis between Catalonia and Spain over the former's push for independence.
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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.
