NatWest Markets
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Coventry Building Society paid only a small premium to issue an inaugural non-preferred senior note on Tuesday, while scoring a pre-emptive senior ratings boost during the process. -
Coventry Building Society is set to sell its inaugural non-preferred senior bond, which it will use to optimise its balance sheet ahead of a deadline for its end-state minimum requirements for own funds and eligible liabilities (MREL).
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Clarion Housing, the UK housing association, has signed a £100m sustainability-linked loan, with the borrower using Sonia as the pricing benchmark for the first time.
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The UK Debt Management Office has selected the banks to lead the first syndicated transaction of its 2021/2022 borrowing programme.
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Austria took centre stage in the euro sovereign bond market this week with the sale of its first ever four year benchmark alongside a new 50 year deal to complete its curve.
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Royal Schiphol, the Dutch airport, sold €1bn of debt on Thursday, as highly rated names found solid support in the European corporate bond market.
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Eurogrid, the German power network company, made light work of a bond market outing on Tuesday, obtaining more than five times oversubscription for a €500m issue in a market subdued by the looming earnings season.
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A slew of mandates hit Europe’s high grade corporate bond market on Monday, with issuers increasingly adding their ESG ratings to investor communications that cover their whole enterprise, even if the deal being marketed is not a designated socially responsible investment.
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NatWest Group plans to redeem a 36 year old perpetual bond as it continues to clean up its capital stack ahead of the CRR transitional deadline later this year.
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