NatWest Markets
-
On Thursday RCI Banque, the financing arm of Renault, brought the corporate bond deal count to 10 for the week, but was the only benchmark issuer in the market on the day. Danish logistics company DSV debuted in euros with a sub-benchmark deal. -
UK telecoms group Virgin Media was in the market for a £200m add-on of its 2024 receivable financing notes on Monday. By Wednesday, it had sold £450m of the deal, proving that demand is not restricted to the high yield debt market for euros, where three more deals were under way.
-
Late in the summer, Europe’s Single Supervisory Mechanism dished out its first punishment, fining Ireland's Permanent tsb for breaching regulatory limits on liquidity. But the fine’s small size indicates the bizarre, skewed priorities in how we punish banks for wrongdoing.
-
Austria has become the first eurozone sovereign to syndicate a 100 year bond, selling €3.5bn to investors desperate to pile cash into ultra-long paper.
-
Austria has picked banks for a five year bond to be launched on Tuesday, but may also extend its curve to 100 years.
-
A full €2.3bn of bond offerings from seven borrowers hit screens on Monday in the European high yield bond market, following last week's more than €3bn of new bonds despite fund inflows turning negative.
-
-
-
As the European Central Bank meeting suspended euro issuance on Thursday, British Land took the opportunity to grab UK investors’ attention with its first senior bond for 11 years. The £300m 12 year deal followed Tuesday’s £250m seven year transaction from Total, which had an order book of around £600m.
-
The UK this week once again broke its record order book, with bankers suggesting the huge demand may have been down to investors taking their last chance for ultralong sovereign sterling paper for some time.
-
The sterling market is on fire for SSA borrowers. Attractive conditions and investors with cash to deploy have come together to produce some of the market’s most impressive deals of the year, with more in the pipeline.
-
As expected, no euro issuers were tempted to compete with the European Central Bank meeting on Thursday, however British Land took the opportunity to bring its first senior bond since 2006.
