NatWest Markets
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NatWest Markets will post two SSA bond bankers to Paris this summer, including the head of its frequent borrower group syndicate. -
Prospects for companies to issue more social bonds rose this week, with the debut issue by Electricité de France, a borrower with a long and influential track record in the green bond market.
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Banks bombarded the dollar market this week, with a deluge of supply from rare Yankee issuers and US heavyweights across the capital structure.
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Banks have enjoyed a hot funding streak in the sterling market in recent weeks, with pent up demand pushing supply towards its highest year in over a decade. Some market participants, however, are worried the superlative conditions might vanish just as quickly as they appeared.
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Europe’s high grade corporate market this week saw one of its busiest days of the year, with a touch over €4.5bn printed from eight tranches on Wednesday, and investors lapped up most of the deals with ease.
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University College London has issued the first public ESG-labelled bond from the UK’s higher education sector, which it priced flat to fair value. But bankers say that while the demand is there, a lack of supply means deals like this are going to be a rarity.
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HICL Infrastructure and JLEN Environmental Assets, two London-listed infrastructure funds, this week signed ESG-linked loans that use Sonia instead of Libor. But loans bankers are still worried about the large number of deals that have not moved away from Libor, which falls out of use on December 31.
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University College London has issued the first public ESG-labelled bond from the UK’s higher education sector, which it priced flat to fair value.
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European banks made the most of an improving tone in the euro market this week, piling on top of one another to access funding in a small but supportive window.
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ABN Amro brushed aside concerns about the bid for long end paper on Wednesday, as it secured a tight spread on a 12 year deal in the euro market. It was joined by a couple of other banks targeting more conventional maturities.
