Santander

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.

European high yield bond issuers roadshowed for seven lower rated new offerings this week, leaving behind the quiet of the post-Easter recess. What followed was a vigorous tug of war over pricing and terms in which bankers and investors claimed different victories.

French aerospace and defence company Thales took a proven route to success when it sold a new dual tranche deal on Thursday, combining short dated floating rate notes with a fixed rate offering.

UBS followed Santander this week by issuing a large senior deal designed to meet loss-absorbing capacity requirements, as both banks look ahead to first quarter results.