NatWest Markets
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Spanish telecoms provider Telefónica latched onto the swell of investor demand for riskier corners of the European investment grade corporate bond market on Thursday as it issued a €1bn hybrid bond. -
Belfius Bank this week sold the first Belgian covered bond to price within a French covered bond. The deal also came with virtually no new issue concession.
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The European Investment Bank left bankers cheering on Thursday as it found strong demand for the first long end sterling syndication from a supranational for several years.
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SIG Combibloc, the Swiss packaging firm owned by Onex, launched its second repricing request on its leveraged buyout loans with a lender call scheduled for Thursday morning New York time, as replies were due on Armacell's own repricing.
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Cavendish Corporate Finance, a UK sellside M&A advisory firm, said it had hired Alistair Hay to run its debt advisory team. Hay previously worked at Ernst & Young and at RBS.
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The European Investment Bank has mandated banks to sell a bond in a part of the sterling curve that neither it nor any other supranational or non-UK agency has visited in three years.
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WPP, the UK advertising and public relations firm, came to the sterling bond market on Wednesday for a £400m 30 year issue that included a novel choice of bookrunner.
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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.
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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.
