NatWest Markets

Chemicals producer Inovyn on Tuesday began the roadshow for a €300m secured bond that will replace a portion of term loan ‘B’ funding being issued to support its full takeover by Ineos.

Kering, the French luxury goods company, issued a €500m no-grow transaction on Thursday that saw some orders drop out but still came with a negative new issue premium.

University College London has signed the largest ever European Investment Bank loan to a higher education institution, it announced on Thursday.

The European Investment Bank sold a £500m tap of its February 2019s on Wednesday, taking sterling issuance from public sector borrowers to its highest level for nine weeks.

Royal Bank of Scotland has appointed a new head of leveraged finance from within the bank.

Finland is to tap £100m of its December 2020s amid signs of confidence in the sterling market as the risk of a British exit from the European Union falls.

PQ Corp, the US inorganic chemicals producer, and Inovyn, the UK-headquartered chorvinyls producer — both partly owned by Ineos, the petrochemicals company — are marketing over $2bn of refinancing debt over the coming days.

European Central Bank president Mario Draghi kept his powder dry at his latest monetary policy meeting on Thursday, sending eurozone government bond yields higher — something that is likely to be welcomed in the offices of the European Stability Mechanism.

France’s largest property firm, Unibail-Rodamco, issued a €1bn dual tranche bond on Wednesday that included only the third 20 year corporate bond in euros this year.

Over the past 15 years UK banks have set aside over £53bn to pay for their misconduct, according to a report published on Monday, with the end nowhere in sight.

Issuers stormed out of the blocks with a set of deals across the curve this week, with factors including an increase in swap spreads on the short end, a positive feeling towards the US market since Janet Yellen’s statements in March and the start of the Japanese fiscal year all credited.

Yorkshire Building Society pulled in £1bn of orders in no time on Thursday morning, as sterling investors fought over the first long end senior bond in the currency since January.