RBC Capital Markets

The UK may have voted to leave the European Union but German’s biggest agency showed it still plans to visit the UK’s currency, as it sold the first sterling deal from an SSA since the UK’s referendum late last week.

Electricité de France has named 16 banks to underwrite its €4bn rights issue, of which €3bn will be bought by the French government.

The UK may have knocked the eurozone periphery off a cliff as it stumbled on its way out of the European Union on Friday morning. Government bond spreads on Friday echoed those during the eurozone sovereign debt crisis. The gap between Germany and the periphery has opened up like the chasm that has developed between UK voters and the political establishment.

US fashion brands group PVH Corp on Tuesday sold its first bond in the euro high yield market, amid growing concerns that the UK could vote to leave the European Union.

The Province of Manitoba sold a 10 year dollar bond on Tuesday, taking advantage of a good window despite the impending Fed rates decision on Wednesday.

Two new borrowers launched deals in the European high yield market on Monday, PVH and Salini Impregilo. Both are double-B rated, like most of last week’s deals.

The response to some of this week’s dollar deals has got some bankers believing that next week’s US Federal Reserve meeting might not prove to be the market shutting millstone that it had promised to be just a few weeks ago.

Cegid has launched €365m of loans for its buyout, at a 25 times multiple, by two investment firms. One of the buyers was set up by the former chief operating officer (COO) of Goldman’s investment banking unit in Japan.

A pair of public sector borrowers are lining up to sell dollar floating rate notes on Thursday, following a series of floating and fixed rate deals in the currency on Wednesday.

A trio of issuers have lined up short end dollar deals for pricing on Wednesday. Some bankers said the focus on threes and fives was in response to poor US jobs data last week, although that view was not universal.

After five months of silence, corporate issuers have returned to the Kangaroo bond market as pent up demand provides a ready home for paper.

Royal Bank of Canada’s capital markets division reported a 7% year-on-year fall in profits in its second quarter results as trading and origination activity declined but strong M&A activity buoyed the division.