NatWest Markets
-
-
Italy brought a rare syndicated effort at the short end of the euro curve on Wednesday, but there was little sign that the unorthodox approach disturbed investors as it built an oversubscribed book at a punchy price. -
Export Development Canada is set to join what one SSA banker described as a “ridiculous” dollar market, where issuers are selling in big size and with little or no new issue premiums.
-
Public sector borrowers are taking advantage of some of the best conditions in the dollar market all year to print jumbo sized deals at the tightest spreads to US Treasuries in months.
-
After the extremes of recent weeks, with enormous order books and sometimes negative new issue premiums, Europe’s corporate bond market has reached a steadier cruising speed this week.
-
World Bank roared into the dollar market on Tuesday with the largest five year benchmark in the currency in over a year, as KfW and Bank Nederlandse Gemeenten hit screens with short dated mandates.
-
Betting house William Hill this week was alone in the European high yield market for a potential issue of £300m of unsecured notes, with the UK’s European Union membership referendum an unhelpful backdrop.
-
US biopharmaceutical firm Johnson & Johnson on Wednesday issued a four tranche bond, including 19 year notes, amid much competition in a market that absorbed 17 deals this week.
-
Detroit car maker General Motors on Wednesday received orders totalling more than seven times its €500m bond as it dodged investor weariness with the glut of supply in the market.
-
UK retailer Next on Wednesday issued a £300m bond, benefiting from a receptive period in the sterling corporate bond market, which is expected to wind down in June as the Brexit referendum approaches.
-
With Ascension Day putting a cap on activity in euro-denominated bonds, the sterling market glided into action as Travis Perkins issued a £300m deal.
-
Nederlandse Gasunie, the Dutch state-owned gas transmission company, issued a €650m 10 year bond on Wednesday that drew in investors by leaving some concessions on the table.
