NatWest Markets
-
Speciality chemicals maker Synthomer and hotel group Radisson Hospitality began roadshows for debut high yield bond offerings in the European market this week, undaunted by recent investor pushback. Meanwhile, Smurfit Kappa, the packaging group, added LBO funding to the high yield pipeline. -
The UK’s Synthomer plans to raise €600m through a revolving credit facility and privately placed notes, as the unrated chemicals company looks to refinance existing bank debt early.
-
The European Investment Bank threw itself into a new type of sterling deal with aplomb, making a splash with a £1bn floater referencing the Sonia benchmark, in what bankers believe may become the new standard for the market.
-
A sterling floater from the European Investment Bank would not normally set tongues wagging across capital markets but the supranational’s upcoming deal is an exceptional case. The bond is a test case for what is expected by many to become the new market standard for the format, writes Lewis McLellan.
-
The European Investment Bank has released initial price thoughts for a sterling benchmark floater referencing Sonia — a trade that dominated many conversations at this week's Euromoney Global Borrowers conference in London. The deal will be priced on Friday.
-
Spanish electricity utility Iberdrola has been one of the leading corporate issuers of green bonds and, on Thursday, it took its total green issuance to more than €7bn with its latest offering.
-
HSS Hire Group, the recovering UK tool hire company, has signed £245m of loans, as the clamour for sterling debt shows little sign of abating amid a bumper second quarter for loans in the currency.
-
The European Investment Bank has hit screens for the first sterling floating rate benchmark designed for a post-Libor world.
-
German chemicals producer BASF found overwhelming demand for its first sterling corporate bond of 2018 this week. The issuer’s £250m ($330m) offering was more than six times oversubscribed on Thursday, as sterling investors clamoured for a rare non-UK credit.
-
-
Quantitative easing, perhaps the single most important factor affecting bond prices over the past three years, could be coming to a long awaited end this year. Members of the European Central Bank governing council seemed to hint as much this week, causing govvie spreads to gap wider, writes Lewis McLellan.
-
The market for unsecured bank bonds is beginning to find its feet again following trades from SBAB Bank and NatWest Markets on Thursday.
