Santander

Banco Santander made a profit of €6.2bn last year as a booming performance in Latin American markets helped offset its exposure to a sinking pound.

Energias de Portugal drove into the euro bond market on Tuesday with a €600m long six year transaction that tapped into investors’ taste for crossover credit.

The UK Debt Management Office broke its record book size on Tuesday for the second time in three months, as it also enjoyed a healthy showing from investors outside the country.

UK tobacco company Imperial Brands hit the euro bond market on Tuesday for a dual tranche offering of 4.5 and eight year notes that won over three times oversubscription.

The Spanish sovereign launched a €9bn 10 year on Tuesday, bringing the largest eurozone sovereign syndication so far this year.

Two more European sovereigns have hit screens with 10 year euro mandates, hoping to enjoy the same success that Portugal and Belgium with their deals at the 10 year range this year.

The tally of sterling high yield bond sales in January is on course to reach £2bn, a sensational reversal from 2016’s entire first quarter without issuance in the currency, with several issues this week despite news that the UK will seek to leave the EU single market.

The tally of sterling high yield bond sales in January is on course to reach £2bn after Jaguar Land Rover on Thursday launched a new £300m offering, adding to a recent surge of deals in the currency.

The year’s initial rush of FIG issuance subsided this week, but market participants are already positioning themselves for heavy supply of bail-inable senior bonds in later busy issuance windows.

The UK Debt Management Office has named the group of banks that will sell its next Gilt syndication.

Rather than waiting for the final go-ahead from the authorities, European banks are becoming creative with their bonds in order to bring total loss-absorbing capacity (TLAC) issuance.

Santander has added its name to the list of European banks issuing senior non-preferred bonds this week, even though Spanish law cannot yet accommodate the new asset class.