Sterling
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Issuer mandates for debut green bond amid flurry of borrowers lining up -
Canadian lender takes size at a tight price on sterling return
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Investors spy chance to pick up high yielding bank debt across currencies
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Issuers must move quickly as spreads in Europe are tipped to widen
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The £1.5bn deal is on track to be priced with 12.5bp-25bp of new issue premium
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Following new deal, UK lender is still looking to issue £500m-£2.5bn of subordinated debt this year
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Issuer gets long 12 year tighter to Gilts than long seven year
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Issuers must pay premium to access sterling but pricing still attractive versus euros
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Dutch bank was able to fund inside of where it could have issued in euros as FIG paper in UK currency outperforms
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Rarer names and currencies are proving popular with investors
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Five issuers fight for investor attention in a crowded market
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Blanchard to co-run the bank’s team in UK and Europe
