NatWest Markets
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The super strong bid for public sector dollar paper shows no signs of letting up, with Sweden this week printing the tightest deal to mid-swaps of 2017 — despite the large volume of paper already printed this year. -
CPPIB Capital is looking to step across the Atlantic into euros, selecting four banks to roadshow its euro debut. Elsewhere, the European Financial Stability Facility (EFSF) sent out its first request for proposals for the second quarter.
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Sweden made a big noise in an otherwise quiet dollar market for public sector borrowers this week as it printed the tightest priced benchmark in the currency so far this year.
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Sweden is set to bring what could be the tightest SSA dollar benchmark of the year, as swap spreads in the currency moved back near their 2017 highs.
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Telenet, the Belgian cable and telecoms company owned by Liberty Global, launched a €750m and $1bn term loan refinancing on Tuesday, just four months after signing the original facilities.
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Wells Fargo has hired a banker from RBS to join its FIG origination effort.
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British American Tobacco’s (BAT) acquisition of US rival Reynolds American will trigger other merger talks across the tobacco industry which could see financing deals rolling up to capital markets, loan bankers believe. Silas Brown reports.
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Italy is set to kick off its syndicated programme for the year with a September 2033 euro benchmark, as the sovereign brushed off a downgrade from DBRS late last week.
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Micro Focus, a UK software firm, is poised to offer up $1bn-equivalent in euros to the European leveraged loan market as it looks to close its reverse merger with Hewlett Packard’s software business.
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As many as eight covered bonds were launched across three currencies this week, the vaguely discernible pattern suggesting better interest for the larger deals with intermediate maturities and particularly those from non-eurozone issuers where liquidity is most likely to be better.
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Spanish telecoms provider Telefónica hit the euro market on Tuesday for a dual tranche offering that tested the outer limit of investors’ appetite for long tenors.
