NatWest Markets
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EMEA loans bankers are taking some positives from developments in the wider capital markets.
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Heathrow, Europe’s busiest airport, may be facing what could be one of the biggest disruptions in its history, in the shape of Brexit, but its approach to the bond market on Tuesday was smooth. Having roadshowed last week, it glided in on the wave of credit demand and landed this year’s fourth corporate 15 year issue in euros. -
A US pension fund has filed a class action suit against two of the banks suspected by the European Commission of breaching EU competition law in their trading of European government bonds between 2007 and 2012.
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NatWest Markets has made some hires in strategy across emerging markets, rates and foreign exchange.
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The European Investment Bank and FMS Wertmanagement sold well oversubscribed issues in the sterling SSA market on Tuesday before an expected quieter period for new issues in the currency next week as parliament votes on prime minister Theresa May’s revised Brexit deal.
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The European Investment Bank will look to extend the Sonia-linked floating rate note curve on Tuesday with a seven year trade. On-looking bankers welcomed the development but said it would not lead to a rush of issuers heading for that part of the curve.
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South East Water, the UK water supplier headquartered in Kent, has debuted in the US private placement (US PP) market, according to participants in the sector.
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NatWest Markets has hired an SSA banker, GlobalCapital understands.
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The Spanish Treasury is studying the possibility of issuing green bonds — a shift from its previous position on the format — after the country’s government last week outlined a series of measures to decarbonise the economy by 2050. Spain is also adjusting its inflation-linked bond issuance strategy this year. If the sovereign does decide to issue green bonds, it is likely to find strong demand, with one of its own debt issues as well as a returning Spanish region this week being heavily oversubscribed.
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PlayTech, the UK-based gambling technology company, announced its second high yield bond issue on Tuesday afternoon, seeking to raise €350m to redeem an out-of-the-money convertible bond issued in 2014. During the roadshow, it confirmed a new contract with UK gaming group GVC, which helped it print tight in a market that was already supportive.
