NatWest Markets

KKR-backed Pillarstone, the non-performing loan acquisition and advisory company, has picked a chief operating officer after starting operations last year.

Finland is bringing a seven year euro benchmark that is almost certain to be priced with a negative yield — but that should do little to quell demand, said bankers on and off the deal.

NRW.Bank will on Tuesday become the latest public sector borrower to enter a super strong dollar market that shows no sign of shutting down for the summer, after the German agency mandated banks on Monday.

Bankers expect a slowdown in primary supply this week, as FIG issuers reflect on an unseasonably busy period for new issuance. But opportunistic trades remain possible, as spreads tighten across the sector.

Places for People, the UK housing company, on Wednesday sold £400m ($519.35m) of bonds with orders more than 2.5 times the offering size, despite tapping the market just two weeks after Moody’s cut its rating to A3.

Royal Bank of Scotland was marketing a new additional tier one instrument on Wednesday, while Standard Chartered was also looking to take advantage of more attractive spreads across the asset class.

BP Capital Markets slotted into August’s smooth run of corporate sterling bond issuance on Tuesday, as it issued a benchmark seven year transaction that was priced inside its euro curve.

Pricing rather than size was the focus for public sector borrowers in the dollar market this week, although overly aggressive pricing was not the reason for one issuer having to pull back from bringing a tap issue.

Waha Capital — Vitec

David Leeming, head of hybrid capital and liability management at RBS, has left the bank.

A pair of public sector borrowers mandated banks on Monday to run small taps of dollar bonds, a theme that SSA bankers expect to run for the next few weeks.

Spain’s Cellnex Telecom, a broadcasting towers business, hit the investment grade and high yield euro markets on Monday, just over six weeks after it roadshowed for the deal.