RBC Capital Markets
-
The UK Debt Management Office has selected the syndicate that will run the books for its upcoming tap — its final syndication of the 2019/2020 financial year. -
-
World Bank hit a number of landmarks on size, demand and pricing with its first sterling benchmark of the year. It used a maturity that has become the new sweet spot for SSAs in the currency as issuers seek more attractive funding levels versus euros and dollars.
-
Elenia, the Finish electricity distribution company, opened books for a €500m no-grow seven-year bond on Thursday, its first issue since Standard & Poor’s upgraded it to BBB+ in November.
-
World Bank broke its size and order book record in the sterling bond market on Tuesday with a maturity that has become the new sweet spot in the currency for SSA borrowers.
-
World Bank appointed banks for a December 2026 sterling bond on Monday. The issuer will be the third public sector borrower in the last week to access this part of the sterling curve in order to achieve a more attractive funding cost versus euros and dollars.
-
London-listed Warehouse REIT has signed a £220m loan, as the UK urban warehouse owner switches from bilateral to club borrowing. The deal will need to be revisited well before its five year tenor is up, as it is linked to the Libor benchmark that will essentially become obsolete for sterling trades after 2021.
-
-
Royal Bank of Canada’s £1.25bn five year covered bond issued at 47bp over Sonia on Thursday was the tightest and largest transaction to reference the rate ever issued by a bank from outside the UK. The depth of demand illustrated that the bid for Sonia products has grown.
-
The European Investment Bank doubled up in capital markets on Wednesday, hitting screens for a fixed rate sterling benchmark and a Sofr-linked floating rate dollar note.
-
Landesbank Baden-Württemberg (LBBW) became the first issuer of non-preferred senior bonds in green format in sterling this week. The German lender took advantage of favourable market conditions to print in line with other recent sterling issuers.
-
The European Investment Bank is keeping a busy pace in capital markets, mandating banks on Tuesday for its sixth syndicated transaction of the year in a core currency.
