NatWest Markets
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Sovereign Housing Association, which has 58,000 homes, mainly in the southwest of England, received chunky demand for a 29 year sterling bond issue on Monday, as the extension of the UK's Brexit deadline piqued investors' appetite for sterling assets. -
NatWest Markets made just £2m from its rates business in the third quarter, the bank said on Thursday, helping to push Royal Bank of Scotland’s investment bank back into the red. Some are uncertain over the future of the business.
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Prosus gets JP Morgan loan for £4.9bn Just Eat order - GoCo switches to bigger loan deal - Schroders adds ESG targets to revolver - AerCap secures revolving debt until 2024 - Nottingham set to be third UK university to sell US PP notes this year
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Investors piled into a new hybrid bond for hotel group Accor this week to oversubscribe the €500m deal by almost six times. The demand reflected a ramping up of the hunt for yield as the European Central Bank stokes the fires of its corporate bond buying programme.
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The UK’s GoCo Group has refinanced its bank debt with £115m of loans, with the insurance and price comparison group more than doubling the size of its revolving credit facility as it looks to fund a new “transformative” strategy.
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France’s Unibail-Rodamco-Westfield has set final terms on a €750m trade, with the commercial real estate firm ramping up the size while whittling away at the spread to around a single digit new issue premium.
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Royal Bank of Canada was able to raise £400m of senior funding as though it was on 'autopilot' in the sterling market this week. It is the third Canadian issuer in a month to seek funding in this currency counting as total loss-absorbing capacity (TLAC).
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Carnival, the Anglo American cruise company, has launched a €600m 10 year trade, with the corporate bond pipeline filling fast.
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High grade corporate borrowers were quick out of the traps on Monday, cramming in before the blackout period to raise around €5bn-equivalent of bond funding from order books many multiples of that.
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Bureau Veritas, the unrated certification agency headquartered in Paris, has entered the US private placement, according to market participants.
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The buyout bonds for Merlin Entertainments and Kantar, backed by Blackstone and Bain, will set new standards for European issuers. If the investors strike down the "net short" clauses — as they did in an earlier Inmarsat deal — the sponsors may give up on the controversial strategy to battle hedge funds with large CDS positions.
