NatWest Markets
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Unédic hit the market on Wednesday with a €2bn 15 year social benchmark, entering the market as the ripples from Tuesday's €20bn Next Generation EU bond print settled. -
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ANZ dropped into the sterling market this week in search of tier two paper, which will help it meet its total loss-absorbing capacity (TLAC) requirements. With the TLAC deadline fast approaching, Australian firms are expected to make use of the attractive funding conditions to ramp up their subordinated issuance.
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Having visited the euro market last week, Nestlé has bounced quickly into sterling, finding solid demand for a £1bn dual tranche trade on Wednesday.
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ANZ was the latest name to throw its hat into the sterling subordinated ring as it ended a nine year absence from the currency with a new tier two capital issue.
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CPPIB Capital sold its first public Sonia floating rate note on Monday, with Oesterreichische Kontrollbank set to be the next public sector borrower to hit the sterling market after mandating banks for a long four year fixed rate benchmark.
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Deutsche Bank’s recently announced policy on returning to the New York office in September fits what many bankers have been expecting for months and heralds a return to normality. But for a small subset of bankers who left offices in London for lockdown in March 2020, the end of restrictions will also mean a change of circumstances — and getting used to living in a new country.
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The ESG capital markets were left reeling on Thursday after a group of banks provided a £1.1bn-equivalent sustainability-linked facility that does not have any key performance indicators included — on the agreement that the borrower will add them within 12 months. Mike Turner reports.
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KfW sold its first Sonia floating rate note on Wednesday, with the deal pricing at the tightest ever spread for the product in syndicated format.
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Grosvenor Group, the UK property company, has signed a £1.1bn-equivalent sustainability linked revolving credit facility, while taking the unusual step of not formulating complete key performance indicators before signing.
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The French Community of Belgium (LCFB) sold its first social bond under its new social finance framework on Wednesday.
