RBC Capital Markets

European equity capital market bankers took stock of a month-long rally this week, as they said they were finally ready to brave the markets and launch the many deals they had held back due to heightened volatility. But, they cautioned, the surge in IPO issuance would have to wait till after Easter.

Toronto-Dominion Bank (TD) and National Australia Bank (NAB) raised more than €3bn this week in the US dollar denominated covered bond market, nearly doubling supply seen so far this year.

There was a double breakthrough in dollars for public sector borrowers on Tuesday, as Bank Nederlandse Gemeenten reopened the 10 year part of the curve for core issuers for the first time in seven months and Sweden priced the tightest three year benchmark since the first week of the year.

Metro Bank, the UK challenger bank, started trading on the London Stock Exchange on Monday morning, having raised £400m privately rather than from a public offering of shares.

A pair of SSAs are set to print in the Australian dollar market this week, as bankers report strong Asian appetite for public sector Kangaroo bonds.

Scotland Gas Networks came to the sterling bond market on Monday with a £250m 11 year offering that was nearly twice subscribed.

Royal Bank of Canada reported a C$24m year-on-year decrease in profits from its capital markets division on Wednesday, as debt origination declined and the bank increased provisions against its oil and gas exposure.

FMS-Wertmanagement has tapped a sterling bond for £250m with an oversubscribed book as European and Japanese equity price gains spurred investor confidence.

RBC has hired Martin Copeland as head of oil and gas in London.

Royal Dutch Shell has cancelled its £10.07bn ($14.56bn) bridge loan, instead opting to pay for the cash element of its $82bn acquisition of BG Group with cash on balance sheet.

Few bankers were happy with their bonuses at the start of 2016, despite a surge in the value of their payments.

CMC Markets, the financial spread betting firm, priced its £218m initial public offering last Friday, before falling 2.5% in early trading. It has fallen further since.