Sterling

Flurry of issuance satisfies parched investors and raises hopes for more across the capital structure

'Patchy' SSA issuance expected in sterling after sparse few weeks

Unsecured issuance in euros catches up with last year thanks to improving funding conditions, smooth March

Issuer clears £500m deal 3bp above where NatWest issued on Monday

Borrowers raise total of £400m from quiet market

◆ Improved dynamics in the sterling market have lured issuers across senior and covered markets this week ◆ Lloyds' offering is among the rare deals from top UK borrowers ◆ Issuers funds with 5bp NIP

Leeds Building Society is lining up a similar five year deal for £500m

◆ Issuer hits sterling market days after similar dollar foray ◆ Tight price, short maturity pushes off some investors ◆ 'Price over size' aspiration achieved

Issuer sees blowout demand for long dated sterling debt

◆ ‘A great, great trade,’ say rival bankers ◆ Investors ‘under-supplied’ in sterling

◆ BPM raises new euro debt with no NIP as investors pile in ◆ 'Periphery is the new core' thinking powers primary ◆ KBC debuts sterling tier two to feed bond-starved investors

Although investors want sterling risk, issuers are not queueing up to issue