NatWest Markets

Leeds Building Society opened books on Monday for its second Sonia-linked covered bond. The trade benefited from an ‘unparallelled’ level of demand, reaching almost four times its £600m size.

The European Investment Bank and the Inter-American Development Bank amassed strong demand from investors to kick off their funding programmes for the year on Friday, with the former receiving the biggest ever order book in the sterling supranational and agency bond market, according to the leads.

Nationwide Building Society issued the first sterling covered bond of the year on Friday, without needing to pay any premium over the tight trading levels of its existing bonds.

NatWest Markets is searching for a new chief executive and chief financial officer, after Chris Marks and Richard Place stepped down from those roles.

UK fund Sequoia Economic Infrastructure Fund, which invests in infrastructure debt, has increased its multi-currency revolver for the second time since May, enlarging it from £200m to £280m.

Power company Electricité de France has agreed to buy back almost €1.2bn-equivalent of its hybrid capital bonds, marking the end of a busy period for the company in the debt markets.

Utmost International, the life assurance group which mandated leads to run investor meetings for a senior bond in mid-November, may have missed the issuance window this year as the primary market slows to a standstill around the UK's general election.

The UK’s The Gym Group has refinanced its sterling revolving credit facility with a bigger deal, as the company launches a new, smaller gym format.

After a day of global investor calls on Tuesday, Gas Networks Ireland and Radiotelevisione Italiana (Rai) launched sub-benchmark bonds on Wednesday morning. That followed a deal by Tamburi Investment Partners on Tuesday.

Italy’s Tamburi Investment Partners brought a sub-bechmark five year trade on Tuesday, with similar deals for Gas Networks Ireland and Radiotelevisione Italia waiting in the wings.

Electricité de France attracted huge demand for a €500m hybrid capital bond issue on Tuesday, as the continued grinding tighter of corporate bond spreads meant subordinated bonds enjoyed solid demand from investors.

Volkswagen Financial Services returned to the sterling bond market on Tuesday, after hitting the market twice over the summer.