NatWest Markets
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The short Easter week saw a timid showing of new high grade corporate issuance in the European market but investors snapped up the trades that were on screens. -
Gatwick Airport got a bulging order book for its return to the senior funding market, weeks after the UK airport got chunky demand for its debut subordinated transaction.
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Athora Netherlands returned to the market after almost three years away on Thursday, raising €300m of tier two paper for the first time since its takeover by its Bermuda-based parent.
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KfW hit the market with an impressive green bond this week, raising a record €4bn of eight year paper and paying only 1bp of new issue concession to do so.
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Europe’s high grade corporate bond market was populated with well rated issuers on Wednesday, as triple-B borrowers took a cautious approach and stayed away after the Easter weekend.
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Macquarie Bank ended a seven year absence from the sterling market on Wednesday morning, having postponed its comeback transaction a week earlier.
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Italy and Portugal are the first two eurozone sovereigns out of the blocks for syndications following the Easter break, with the former looking to extend its curve by a further five years.
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NatWest Markets has made another change to its debt financing management structure, with a new role for Roland Plan.
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The Australian Prudential Regulation Authority (Apra) hit Macquarie Bank with a A$500m ($378.4m) capital charge on Thursday, having uncovered serious faults in the firm's risk management practices. The announcement came a day after the bank paused its return to the sterling bond market.
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Utmost Group, a UK life assurance group, has made a roughly £483m cash offer to buy high net worth investment platform provider Quilter International, with four banks lined up to provide debt for the deal.
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Sales of ESG-labelled debt have skyrocketed in the FIG market over the first quarter of 2021, with issuers already halfway through last year’s total volumes. Deal arrangers are confident that supply will be able to keep pace, as banks find room to expand into a burgeoning social bond market, write Tyler Davies and Bill Thornhill.
