NatWest Markets
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World Bank is set to become the second supranational to issue a floating rate note referencing the Sonia benchmark, after mandating banks on Wednesday. The deal is expected to launch “as soon as Thursday” amid strong demand for the product from bank treasuries, according to one of the leads. -
Nomura has made several appointments to its flow rates trading and sales operation in Europe, the Middle East and Africa.
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French electricity utility EDF sold the first hybrid corporate bond deal in the euro market for more than two months on Tuesday, as it launched a tender offer for its existing hybrids with the aim of maintaining its existing volume of outstanding bonds.
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Santander Consumer Finance did not have to pay too much concession to take senior funding from the market on Tuesday, following on from Société Générale and Royal Bank of Scotland the day before.
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IDB Invest hit screens for a three year dollar bond on Monday, as the pipeline for the currency grew for the final quarter.
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In the first deal from a UK bank since last week’s Salzburg summit, Royal Bank of Scotland came to the market on Monday with a senior bond from its holding company — looking to complete its sixth such transaction this year.
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Northern Ireland Electricity, the country’s electricity grid operator, overcame any fears investors may have had about the Irish border issue in the ongoing Brexit negotiations when it upsized its deal on a rare visit to the capital markets on Thursday.
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French electricity grid operator Réseau de Transport d’Électricité this week took the record for the largest order book for a new 20 year corporate bond in style when it received €5.5bn of orders. The size of the demand was more than double the €2.3bn book, which had given the record to French tyre manufacturer Michelin three weeks before.
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NatWest Markets attracted €4bn of demand for a short-dated floating rate bond on Wednesday. Bankers on and off the deal disagreed about the size of new issue premium offered.
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French building materials producer Saint Gobain received overwhelming demand for its second benchmark issuance of 2018. A combined order book of €7bn meant the issuer could have sold a much larger deal than the €1bn size limit it imposed on itself.
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UK property company Grosvenor Britain & Ireland placed three private placements with six different investors this week, two of which were new to the credit. Some of the funds will go towards the firm's plans to help ease the UK's housing shortage.
