NatWest Markets
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European high yield bankers approached their market's imminent summer break in high spirits, printing another single-B rated deal, from petrochemical firm Ineos. -
Affordable Housing has mandated three banks to arrange a tap of sterling notes that may come to market as early as Thursday.
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Mediq, the Dutch pharmaceuticals firm owned by Advent, has launched a €200m dividend recapitalisation, holding an investor call on Wednesday. This follows German industrial services firm Bilfinger offering a €700m term loan at a bank meeting on Tuesday.
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The Gilt market on Tuesday once again highlighted its immunity to concerns around the UK's vote to leave the EU, as the Debt Management Office conducted a trademark smooth execution with a tap of its 0.125% November 2065 inflation-linked bond.
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Heathrow Airport came out of its earnings blackout to issue a benchmark 33 year sterling bond from its secured funding programme on Tuesday, clinching a minimal new issue premium.
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Petrochemical manufacturer Ineos on Monday launched a €1.1bn-equivalent refinancing deal into a high yield market that has thrown caution to the wind.
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The UK’s largest dental company Mydentist on Thursday launched a £425m bond to refinance all of its debt, becoming the first high yield sterling deal since the country voted to leave the European Union.
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The run of success for public sector borrowers continued on Wednesday, as strong demand and a high quality book allowed NRW.Bank to price flat to its curve.
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NRW.Bank will bring a no-grow $1bn three year dollar benchmark on Wednesday, after African Development Bank and Rentenbank on Tuesday comfortably raised dollars in longer tenors.
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Swedish firm AR Packaging and French software firm Cegid both successfully allocated leveraged buyout loan packages this week — with the margins undisturbed by the UK's vote to leave the EU.
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The Bank of England cut the UK’s countercyclical buffer requirement with immediate effect on Tuesday, softening risks associated with payments on additional tier one (AT1) debt.
