NatWest Markets
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The UK’s McKay Securities has signed a £180m revolving credit facility, with the office and industrial REIT switching its bilateral loans for a bigger syndicated deal. -
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Sovereign, supranational and agency (SSA) issuers burst into the second quarter with a scorching week that saw plenty of big books and minimal or negative premiums.
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Spain’s Acciona has signed a €675m environmental, social and governance-linked loan. Lenders piled into the infrastructure and renewable energy group's deal after launch, enabling the size to grow by 35%.
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Swedish Export Credit joined the growing ranks of public sector issuers that have priced bonds though its curve this week when it printed a $1bn 2021 bond with a negative premium.
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Public sector borrowers were able to achieve zero or negative new issue premiums and close books early in the euro market on Tuesday as investors piled into haven assets amid a weaker outlook for global growth.
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Fiat Chrysler Automobiles has extended the maturity of its €6.25bn syndicated bank facility, as loan market activity picks up at the beginning of the second quarter.
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A trio of public sector borrowers hit screens with mandates on Monday ahead of what SSA bankers say will be a busy week of supply following a glut of benchmark issuance towards the end of the first quarter.
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JPM securitization banker leaves — Goldman Brexiter quits for politics — Balax enrols in fintech course
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RCI Banque followed Volkswagen Financial Services’ triple tranche bond issue on Monday with its own two-part issue on Wednesday. Both car finance banks, as very regular issuers, are unlikely to command the absolute tightest pricing relative to their secondary curves, but demand has also cooled somewhat this week, compared with the avid tone of recent weeks. Nevertheless, pricing tightened a long way.
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A head of syndicate for SSA, MTNs, and short term markets has left his employer of 15 years to enrol in a fintech course at Oxford University.
