Sterling
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◆ Deal the first publicly placed UK covered bond secured on buy-to-let mortgages ◆ Saving spotted versus RMBS ◆ Low double digit pick-up needed over prime UK paper -
◆ First sterling benchmark from UK water this year ◆ Lands inside fair value ◆ Comes amid wild moves in rates market
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Loan brings to total revolving credit to £850m
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◆ Athene prints £250m off £255m peak orders ◆ Spread lands at top of guidance ◆ Short-dated FRN a 'defensive trade'
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Listed investment company is striving to cut debt costs
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◆ 'Cheeky' issuers reference low coupon Gilts ◆ RBC prints £300m senior deal off £375m final book ◆ Speculation 'less sophisticated investors' not aware of Gilt anomaly
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Sterling AT1 revival comes amid dispute over Deutsche Bank's foreign exchange losses
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◆ Two sterling AT1s price within 3 days ◆ Strategy limits foreign currency losses ◆ BIL sells euro AT1 with no premium
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◆ Three sterling deals come at once ◆ Some orderbook attrition displayed ◆ Investors say they want more sterling
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◆ New week starts with UK banks painting a 'good and rosy picture' for AT1 sales ◆ Lloyds offers the year's first sterling AT1 ◆ HSBC moves towards sub-7% mark in dollars
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£900m equity raise plans come as Southern tries to save its investment grade rating
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◆ Deal makes ‘good sense’ from an arb perspective ◆ First time out in sterling for more than a year ◆ £350m deal size larger than expected
