NatWest Markets
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Sterling investors poured more than £5bn of orders into deals from NatWest Group and Bank of America on Tuesday, showing issuers that there is plenty of liquidity to put to work in the UK currency. -
Plymouth Community Homes, a UK social housing landlord, has signed a £65m loan facility, as real estate-linked borrowers continue to be some of the most frequent users of the debt markets.
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Europe’s high grade corporate bond market began this shortened week for issuance with an ESG focus, as Australian engineering company Worley mandated for its debut sustainability-linked bond and UK housing association Notting Hill Genesis began marketing a sustainability deal.
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HICL Infrastructure, a London-listed infrastructure investment company, has refinanced its £400m revolving credit facility, with the company shifting the benchmark to risk-free rates and adding five sustainability metrics.
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A trio of firms slipped into the market to place senior paper this week, and with spreads threatening to creep wider, bankers were keen to see lenders make use of the windows available.
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Europe’s high grade corporate bond issuers had a tough week in the primary market after inflation fears sent investors fleeing risk.
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Europe’s high grade corporate bond issuers had a second tough day running on Thursday, as secondary spreads inched wider and investors proved lukewarm to new issuance.
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A pair of infrequent euro borrowers, Virgin Money and SBAB Bank, tapped the market for €500m no-grow bonds on Thursday, landing deals at significantly tighter spreads compared with their last euro outings.
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Eurostar, the company that runs trains through the Channel Tunnel between London and Europe, has signed a £250m commercial financing package, months after it begged the UK government for bailout funding.
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Large global systemically important banks (G-SIBs) showed the primary market was still in good shape on Monday, despite recent volatility. Bank of America added to a recent funding spree with a three-part euro deal, while Credit Suisse tested euros and sterling amid close scrutiny of its investment banking exposures.
