NatWest Markets

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.

Arrow Global, the UK consumer debt manager, will start investor meetings on Thursday for a €225m floating rate note to fund its buyout of InVesting BV and repay its revolving credit facility.

Eurogrid, the German electricity grid operator, took over €4bn of orders for a 12 year euro bond on Monday, as it took advantage of flattening at the long end of the curve.

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.

Daiwa Capital Markets has hired Jez Walsh as co-head of London syndicate, alongside Kevin O'Neill.

Royal Bank of Scotland said on Monday it would take a loss on buying back some £2.3bn of opco and holdco debt, as it continues to position for the incoming total loss absorbing capacity (TLAC) regulations.