NatWest Markets
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Belfius Bank has priced the first Belgian covered bond inside a French covered bond and with virtually no new issue concession.
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The European Investment Bank will on Wednesday tackle a part of the euro curve where Finland drew a strong book last week, as the European Financial Stability Facility made light work of its funding needs for the third quarter. -
The World Bank has brought the post-summer sterling market to life with the biggest deal in the currency from a supranational or agency in months. But the deal may mark a high point, with little else in the pipeline, said bankers.
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Glencore, the Anglo-Swiss commodity trading and mining company, returned to the euro corporate bond market on Tuesday for its first issue since its secondary spreads widened dramatically almost a year ago.
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British American Tobacco issued the first corporate sterling bond of the autumn on Monday as it reached for tenor, tapping the market for a 36 year deal.
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The European Financial Stability Facility is planning to wrap up its third quarter funding needs via a single visit to the market with a deal that will pour some liquidity into the long end of its outstanding bonds.
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FTSE 250 bus and rail company Go-Ahead has signed a £200m bridge loan to insure against execution risk when it comes to refinance a sterling bond. A number of investment grade companies have been exercising precautionary liquidity management of late, said one banker in London.
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The European Central Bank could bring the shorter end of the euro curve back into play for public sector borrowers next week if it opts to cut its deposit rate once again, as super low yields led one market participant to describe a seven year euro benchmark by Finland this week as targeting the “short end” of the curve. Craig McGlashan reports.
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Even with the flood of bankers leaving banks to join the fintech revolution — in which it seems every move has some mind-blowing potential impact on the future of finance — former Royal Bank of Scotland banker Richard Bartlett’s move to start-up ‘social impact’ short-term lender Uberima is unique.
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UK distressed debt buyer Arrow Global this week returned to the market, after selling euros in April, with a refinancing deal to repay in full its 7.875% 2020 notes.
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The European Financial Stability Facility has sent out a request for proposals for a bond issue next week, as Finland highlighted how much demand issuers can muster in the euro market — even at yields well below 0%.
