RBC Capital Markets
-
Royal Bank of Canada took advantage of deeper demand for fixed rate paper than floating in sterling covered bonds, issuing a five year trade on Wednesday. RBC has gathered more demand for its deal than Canadian Imperial Bank of Commerce, which issued a floating rate deal a day before. -
High volumes of issuance have boosted confidence in FIG primary market conditions at the start of 2017, with bankers expecting flows to remain high until banks start going into blackout later this month.
-
KommuneKredit and the Asian Development Bank (ADB) will reopen the dollar market for SSA borrowers on Wednesday. Meanwhile, the EIB is lining up to perform the same service in sterling bonds.
-
KfW placed its final deal of the year on Tuesday, tapping a short dated sterling line and making this the busiest December for offshore SSA sterling issuance in over a decade.
-
Nederlandse Waterschapsbank has become the third European SSA to sell sterling this week, tapping a three year line for its second deal in the currency this year.
-
The public sector market is awaiting the final big event of 2016 in the shape of the US Federal Reserve’s rate decision later on Wednesday. But while a US rate rise looks all but a certainty, some funding officials are anxious about the potential for volatility in the dollar market next year from a different source — politics.
-
After completing a roadshow last week, US orthopaedic reconstructive products producer Zimmer Biomet made its debut in the euro bond market on Tuesday with a dual tranche transaction.
-
Catalent Pharma and Thomas Cook — a reverse Yankee issuer and a UK holidays operator — on Thursday released guidance for high yield deals amounting some €900m in a market that has been mute since November 15.
-
-
A pair of public sector borrowers hit screens this week for dollar syndications, providing an unexpectedly strong climax to 2016.
-
National Australia Bank on Wednesday issued its second dollar benchmark of the year and managed to fund it at a tighter level than it could have hoped for in euros. However, the more conspicuous funding advantage for borrowers lies in sterling covered bonds.
-
Royal Bank of Canada’s capital markets division dragged on the bank’s fourth quarter results, posting a 13% year on year decline in profits.
