UK
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NEX Group rolled out its new swap execution facility (SEF) this week after news after winning approval from the Commodity Futures Trading Commission (CFTC) in April. -
Volkswagen priced the third sterling corporate bond deal in as many days on Thursday, taking total supply over £3bn this week. Aggregate order books for the week are now approaching £10bn.
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Annington Homes, the Terra Firma-owned group that owns the UK Ministry of Defence’s estate for accommodating service families, dazzled the corporate bond market with the second largest sterling issue by a company ever on Wednesday, despite the complexity of its financing story. Nigel Owen reports.
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Environmental service firm Adler & Allan is refinancing all of its debt with a sub-£100m ($130m) unitranche loan from HSBC and alternative investor Bain Capital Credit. The product can pose competition to high yield at bigger sizes, said sources.
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There is no better time than the summer to take a trip down memory lane and revisit old haunts in London, especially as it provides the perfect backdrop for catching up with friends over a few drinks.
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Annington Homes, the Terra Firma-owned group that owns the UK Ministry of Defence married quarters housing estate, dazzled the corporate bond market with the second largest sterling issuer by a company ever on Wednesday, despite the complexity of its story. The deal augurs well for British American Tobacco's bond plans, said some corporate bond experts.
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While the US enjoyed its Independence Day holiday on Tuesday, European corporate bond markets were jump started by AA Bond Co. The UK motoring organisation announced a £250m ($324.33m) no-grow six year deal as part of plans to reduce overall borrowings and associated interest costs.
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Empiric Student Property, the London-listed real estate investment trust that owns UK student accommodation, is seeking to raise £150m, in its sixth equity issue since its £85m IPO in June 2014. The deal will also be its largest so far, and its highest priced.
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After another busy week, the corporate bond market had no new issues to consider on Friday. However, over €12.5bn-equivalent of deals had been priced earlier in the week, 10% more than the week before.
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The sterling market for public sector borrowers has trundled back into gear after the shock UK election result on June 8. A series of issuers printed through this week, while the UK Debt Management Office announced its plans for the second syndication of the 2017-18 financial year.
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