NatWest Markets
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Pemberton has hired a veteran leveraged finance banker as a new partner in its origination team, as it further builds out its private debt platform in Europe.
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Public sector issuers “can do whatever they want” in a rampant dollar market, with investors ploughing into books despite deals pricing close to or flat to their curves.
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Public sector borrowers are rushing back into dollars after a quiet few weeks for the currency, with a trio of issuers taking indications of interest for Wednesday business.
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Bpifrance Financement broke its size record on Tuesday, nipping back into capital markets ahead of several of its compatriots, according to a funding official at the issuer. The European Investment Bank (EIB) and NRW.Bank also made the most of the stable conditions, printing their own benchmarks.
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Saga, the UK insurance company, priced its £250m bond almost almost 40bp inside initial price thoughts on Tuesday, in the European high yield market's first new issue since the French election, despite fears that a Macron win could be read as negative for the Brexiting UK.
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Hospital operator Ameos has scheduled a bank meeting for Wednesday morning for a €510m loan refinancing, as banks scramble for deals.
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Three public sector borrowers hit screens on Monday, mandating in a euro market buoyed by the defeat of National Front candidate Marine Le Pen in the final round of the French presidential election on Sunday.
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UK specialist insurance and travel provider Saga is set to price its first bond next week, a benchmark deal that is part of a refinancing of its financial structure.
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General Motors Financial Co made its first journey of the year to the euro bond market on Wednesday, issuing a €1bn four year floating rate note.
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Amigo Loans, the UK consumer lender, launched a £50m tap of its debut high yield bond on Wednesday, and bankers said there is more to come from the sterling market after what has already been a busy start to the year.
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Maroan Maizar, the former country head for Deutsche’s capital markets businesses in Switzerland, has joined Kepler Cheuvreux to work on Swiss corporate finance.
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