RBC Capital Markets
-
UK airport Heathrow landed orders for more than five times its £250m offering on Wednesday, in a week with less than €500m of new paper in sterling and euros in the high yield bond market. -
KfW launched a three year global on Tuesday, raising $5bn, while Japan Bank for International Cooperation picked banks for a four tranche dollar trade.
-
Oesterreichische Kontrollbank (OeKB) returned to the sterling market on Tuesday, raising £350m with a five year deal.
-
KfW will be the first public sector borrower to test a dollar market where swap spreads have rebounded off the 2017 lows they hit in the middle of last week.
-
Oesterreichische Kontrollbank has mandated banks for its first sterling deal in 1.5 years, joining a host of other public sector issuers to return to the currency this year.
-
-
-
What one SSA banker dubbed a “Canadian invasion” of the sterling market moved up a gear this week, as one province debuted in the currency and another returned after a 20 year absence.
-
The UK drew its largest ever book on Tuesday, taking care of nearly a quarter of its overall syndication programme for the 2017-18 financial year in the process. The deal was particularly impressive given the volatile political backdrop in the UK, said a banker on the trade.
-
The Kangaroo market witnessed a flurry of deals this week as issuers dipped into an investor base starved of paper. The rush of deals follows a period of inactivity during which pricing –– compared with other niche currencies –– had been unfavourable, forcing issuers to wait until costs worked for them again.
-
German mining firm K+S issued in the bond market for the second time in the past six weeks on Wednesday, in investment grade style despite its October downgrade into high yield ratings.
-
The Province of Manitoba raised £350m with its first ever sterling benchmark on Wednesday, becoming the fourth Canadian province to print in the currency this year.
