NatWest Markets
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Bayer, the German chemical company, tapped into the growing demand for floating rate notes on Tuesday with a €500m no-grow three year deal.
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It is not every day that two of the top Belgian corporate credits are in the bond market on the same day, but that happened on Wednesday. As one banker joked, the Belgian corporate market had been boosted by President Obama’s visit to Brussels that day.
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Royal Bank of Scotland returned to the funding markets late last week for its first standalone bond issue since 2008.
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Two UK building societies took to the euro market this week, with Nationwide and Leeds Building Society selling senior debt. Both issuers fell victim to a weak tone, with Leeds’ bonds struggling in the secondary market and Nationwide failing to reach its maximum size ambitions.
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Telefónica returned to the hybrid capital market on Monday, six months after its €1.75bn transaction in September, to sell another deal of the same size.
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The European Investment Bank sold the first sterling green bond from a public sector issuer on Wednesday. The deal's strong reception should encourage other issuers to look to print green bonds in the currency, said SSA bankers.
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Investors flung €3.5bn of orders at one of Europe’s most troubled banks this week, underscoring the credit market’s frantic appetite for higher yielding debt, writes Graham Bippart and Nathan Collins. -
Awas Aviation Capital, the aircraft leasing company headquartered in Dublin, has signed a $300m revolving credit facility from Royal Bank of Scotland.
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One of Italy’s more troubled financial institutions, Banca Monte dei Paschi di Siena, will sell a senior unsecured bond to screaming demand, in yet another illustration of how hunger for yield is not so much opening the door to market access to previously questionable credits; it is rolling out the red carpet and hosting a champagne reception in their honour.
