UBS

Nationwide Building Society has thrown its hat into the ring for selling additional tier one debt, mandating lead arrangers to gauge interest in what would be the first such deal to be denominated in sterling and the first AT1 paper to be sold by a non-bank institution.

The dam opened again in the US corporate bond market this week and a torrent of issues poured out, as companies emerged from earnings blackouts and turned the week into the busiest for corporate high grade issuance so far this year.

ICBC International Holdings has priced the debut offering from its recently signed $1.2bn MTN programme, offering investors a new issue premium to encourage participation.

Australian lender Bendigo and Adelaide Bank sold its debut Swiss franc bond on Tuesday, benefiting from investor interest in a greater variety of Australian issuers.

Unilever refinanced a three year dim sum bond at 2.95% on February 21, much higher than the original bond’s coupon of 1.15%, as the market grows increasingly investor friendly.

Royal Bank of Scotland completed its final sale of UK insurer Direct Line on Wednesday night, with bankers hailing a smoothly executed deal that was priced with no discount on a morning of otherwise terrible news for the Scottish lender.

The run of Russian bank bonds continues despite escalating tensions in the Ukraine, with Promsvyazbank picking leads for its first tier two transaction under Russia's new Basel III rules.

Brazilian lender Banco Safra and Banco de Chile are set to sell Swiss franc debt on Thursday, underlining Swiss investors’ appetite for Latin American paper.

Indian state-owned oil company Bharat Petroleum sold its debut Swiss franc on Tuesday morning, the first deal in the currency from the country since 2012. Brazilian financial Banco Safra could follow with a Swiss deal of its own in the near future.

Australian lender Bendigo and Adelaide Bank is set to sell its debut Swiss franc bond on Tuesday afternoon, adding variety to a market where Australian issuance has been dominated by a small number of issuers.

ICBC International Holdings has priced the debut offering from its new $1.2bn MTN programme and offered investors a new issue premium to encourage participation.

Open interest in US dollar-denominated interest rate swap futures on Chicago-based futures bourse Eris Exchange has reached $10bn in notional value.