NatWest Markets
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The UK Debt Management Office (DMO) tapped a 2065 line for £4bn on Tuesday, upping the size of the transaction because of “impressive quality of demand”. -
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SSE, the UK electricity, gas and telecoms company, brought its inaugural green bond on Wednesday in a deal that was years in the making.
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A pair of issuers sold high quality euro deals into an eager market on Wednesday, drawing praise from onlookers for impressive books.
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The European Financial Stability Facility (EFSF) picked up €2bn with a 23 year bond on Tuesday, paving the way for other top-flight borrowers to bring their own euro deals.
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The UK Debt Management Office has selected the banks that will run its next syndication.
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LafargeHolcim on Tuesday became the first issuer for nearly two weeks to launch a corporate bond in Europe. The €750m 12 year deal received strong demand, with order books more than three times subscribed.
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On Tuesday LafargeHolcim became the first issuer for nearly two weeks to launch a corporate bond in Europe. The €750m 12 year deal received strong demand, which may lead other issuers to bring forward their plans.
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AR Packaging, the Swedish maker of packaging for food, increased its LBO loans with a dividend recapitalisation deal on Tuesday. The move follows a trend of loan borrowers taking on more leverage ahead of new European Central Bank guidance on leverage limits.
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Private equity firms have deployed their direct lending arms in three UK mid-sized deals in the past week, just as public market bankers begin to fret about the effects of Brexit on the sterling market.
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British American Tobacco set fire to any notion that markets close in August this week with a $20.8bn bond bonanza. It brought a $17.25bn eight tranche deal on Tuesday — the second largest bond transaction of the year in the US — and followed that with a €3.6bn-equivalent four tranche dual currency deal in Europe on Wednesday. Nigel Owen reports.
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Inflammatory rhetoric between the US president and North Korea failed to disturb rates markets on Wednesday. FMS Wertmanagement on Wednesday brought a tightly priced deal that drew heavy central bank demand — although it fell “just a touch” under full subscription.
