NatWest Markets

The US investment grade corporate bond market barely blinked this week when the US Federal Reserve called time on quantitative easing. Companies hit the market ahead of what is expected to be a bumper November for new issuance.

Affordable Housing Finance, which raises debt for lending to registered providers of affordable housing in the UK, using a UK government guarantee, has tapped its 2042 secured bonds for £183.5m — and priced arguably through its own curve.

Nestlé, the Swiss foods group, on Wednesday seized the opportunity of a stable and empty market to issue a €500m seven year bond, paying a tiny new issue premium and achieving what one banker said was a record low yield.

Indonesian power company Pertamina, which mandated 12 lenders for its $1.8bn five year loan, will fund a portion of the financing onshore.

The UK Debt Management Office was able to attract its largest order book in an ultra-long syndication during an hour long book build on a tap of the 2068 Gilt — despite the tap coming at a sub-3% coupon and following weeks of volatility in the Gilt market. The deal leaves the UK DMO with one syndication left this financial year.

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RBS is aiming to grow its corporate and institutional FX business in Asia Pacific with two new senior hires who will be based in the bank’s Singapore office.

Yorkshire Housing, a UK housing association, issued a £140m 30 year senior secured bond in its bond market debut on Friday. The proceeds will be used to build 1,500 homes.

The year could still see more Russian loans being signed, with Otkritie Financial Corp Bank and Promsvyazbank deals likely and Acron reviving discussions, say loans bankers. But the overall outlook for Russian borrowing in 2015 has become bleaker this week amid falling oil prices, the growing prospect of a recession and speculation around a possible sovereign downgrade.

RBS has appointed David Leeming head of the combined liability management and hybrid capital DCM group.

Australian company Manassen Foods, which is partly owned by China’s Bright Food, has completed a $285m refinancing with a club of seven banks.

Three issuers, two of them US banks fresh from earnings releases, announced deals to a buoyant euro denominated senior unsecured market on Wednesday.