Santander

Investors have written to the Single Resolution Board asking why a ‘no creditor worse off’ report has not yet been published for Banco Popular and criticising what they see as a conflicts of interest over Deloitte’s involvement in the Spanish bank’s resolution.

German car company Daimler raced from one side of the Atlantic to the other this week to raise €6.7 equivalent from 10 tranches of bonds with tenors from two to 10 years.

On Thursday, German car manufacturer Daimler made its second visit to the corporate bond market with a €2.25bn dual tranche offering. This followed a $4bn seven tranche issue on Monday.

Paradigm Housing Group, a UK housing association, has sold £100m of 30 year US private placement notes to a single investor, using a lengthy delayed draw.

Despite expectations of a slowdown in the pace of issuance in the European high yield market, two borrowers brought €2.9bn of new bonds this week. Both issuers, Spanish construction firm Aldesa and Italian banking payments group Nexi, marketed refinancing deals.

Santander’s UK subsidiary became the latest British bank to issue sterling notes on Thursday. But that run could be coming to an end as investors look to have had enough.

Santander's UK subsidiary became the latest financial institution from the country to market bonds in sterling on Thursday. The final spread was barely moved from initial thoughts.

Santander has hired a new covered bond trader who shares the same name as the trader it recently lost.

Capita, the UK outsourcing company, launched its £701m ($976.13m) rights issue before the market opened on Monday, in a bid to turn its fortunes around and de-lever its balance sheet.

German residential property company Grand City Properties brought its third corporate bond deal of 2018 to the market on Tuesday, while the return of seed company Syngenta with a jumbo multi-tranche deal neared.

Canadian banks and pension funds led a rush of Yankee issuance this week, as they jumped at the chance to tap the dollar market while US banks remained on the sidelines in the run-up to first quarter earnings season.

Investors bought a combined $4.23bn equivalent of debt from Banco Santander and CaixaBank this week after S&P raised its ratings for both banks last Friday.