NatWest Markets
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NatWest jumped into a dollar market in search of additional tier one (AT1) paper on Wednesday morning, as investors shrugged off short term volatility to open their "deep pockets". -
James Marriott is joining Wells Fargo in a senior debt capital markets role this autumn after he resigned from NatWest Markets, where he was head of DCM and advisory for financial institutions and sovereigns, supranationals and agencies.
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Vattenfall, the Swedish electricity company, powered through its euro hybrid capital funding levels with a debut sterling green hybrid this week, as the sterling market continues to provide ample support for borrowers.
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Yorkshire Building Society paid a rare visit to the euro market on Tuesday as it offered a small premium for a €600m preferred senior deal. Bankers expect issuance to slowly dry up over the next few weeks as the market prepares for the summer break.
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Vattenfall, the Swedish energy company, and UK care home operator Assura have mandated for sterling use of proceeds ESG deals, as sustainability bankers say that the sterling market is growing in popularity for issuance.
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Senior and covered bond plans were flowing into the deal pipeline on Monday, with issuers keen to buck the softer tone and print before the start of the summer break.
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Hybrids and crossover rated corporate bond issuers hit screens this week, as the thirst for yield returned to the European market.
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A trio of borrowers looked to slip in with conventional senior deals ahead of Wednesday’s US Federal Reserve meeting, with each paying a small premium to do so.
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Sweden became the latest European sovereign to access the ultra-long end of the curve this week as it launched its first 50 year bond, opening up the long end of the krona curve for other highly rated names.
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The two riskiest issuers in Europe’s corporate bond market on Wednesday both opted for size over pushing hard on pricing. Poste Italiane with its hybrid capital issue and crossover-rated Finnish nuclear power company Teollisuuden Voima priced bigger than expected deals.
