RBC Capital Markets
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Bank Nederlandse Gemeenten hit the market for a sterling trade on Monday, securing its cross-currency swap hedge in advance to minimise volatility. -
GardaWorld, the Canadian security firm, has pulled out of its hostile bid for G4S, leaving the way clear for US rival Allied Universal.
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The SSA sterling market had been deserted for two weeks thanks to a hostile cross-currency basis swap, but KfW returned on Thursday with a £500m tap.
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KfW became the latest in a series of top SSA names to launch an ESG transaction in Canadian dollars, tapping into a growing base of investors in the country.
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The Asian Development Bank has sold its first ever education bond. The proceeds will go towards financing technical and vocational training for educators in the Asia Pacific region.
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KfW is set to make a return to the Canadian dollar bond market on Tuesday, marking its first appearance in Maples since February 2019, when it sold a C$1bn three year.
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World Bank sold the longest ever Sofr-linked floating rate note from a public sector borrower on Thursday with a $600m 10 year trade.
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The World Bank hit the long end of the dollar market on Tuesday. It was joined in the currency by a French agency issuing at the popular five year tenor.
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The World Bank will be the latest public sector borrower to hit the long end of the dollar curve after mandating banks on Monday for a new 10 year benchmark, taking advantage of the increased investor appetite for this maturity as a result of the higher yields on offer.
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Real estate companies are some of the biggest borrowers in Europe this year, with loans for Valor Real Estate and QuadReal Property, a UK/Canadian property joint venture, and Supermarket Income Reit adding to the pile this week.
