NatWest Markets
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Hyde Housing, a UK housing association, paid zero concession on its August 2055 sterling benchmark trade, with the borrower opting to raise debt at the shorter end of the maturity range it marketed to investors on Monday. -
Hyde Housing, a UK housing association, held an investor call on Monday for a long dated sterling benchmark-sized bond, with bankers assessing demand for high grade debt in the currency is at a high.
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The Loan Market Association is not looking at producing documentation for social revolving credit facilities, adding to the likelihood that the first-of-its-kind Covid-19 facility for Suez last week will remain a rarity in the market.
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Suez, the French utility, signed what it claims to be the first ever social revolving credit facility, using elements of green and sustainability-linked financing to create a new Covid-19 era structure to mitigate some of the financial fallout from the coronavirus pandemic.
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Platform Housing Group, a UK social housing firm, got chunky demand from the sterling market on Wednesday, with the borrower benefitting from a dearth of deals in the currency.
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The UK government looks ever more likely to create a new public sector bank focused on green infrastructure. Policy experts welcome the prospect, but there would be many choices to make over the structure and financing of the organisation.
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Platform Housing Group, a UK social housing company, has mandated for a long term sterling benchmark trade, with the company borrowing as it takes on a major development plan.
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Lok'nStore, the UK self-storage company, has activated a clause on its £75m revolving credit facility to extend the deal by another year, as UK loans bankers say there has been a flurry of smaller sterling deals in recent weeks.
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Investors turned out in force as KfW brought its first benchmark green bond of the year this week. The strong demand allowed the German agency to print its joint biggest ever green bond on the back of its largest ever order book for such a deal along with an attractive pricing advantage over a conventional bond.
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KfW made a strong return to the benchmark green bond market on Tuesday, taking advantage of a more attractive pricing dynamic for green bonds over conventional issuance compared to earlier in the year.
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KKR bidco Planets UK has signed a £2.5bn syndicated loan to support a £4.2bn all-cash acquisition of UK waste management firm Viridor, according to sources familiar with the situation. Merger and acquisition activity is set for a revival in the second half of the year, as previously deferred deals are brought back to the fore and at-risk companies are forced to rethink strategy, bankers say.
