Lloyds Bank

Gatwick Airport got a bulging order book for its return to the senior funding market, weeks after the UK airport got chunky demand for its debut subordinated transaction.

Macquarie Bank ended a seven year absence from the sterling market on Wednesday morning, having postponed its comeback transaction a week earlier.

Utmost Group, a UK life assurance group, has made a roughly £483m cash offer to buy high net worth investment platform provider Quilter International, with four banks lined up to provide debt for the deal.

The Guinness Partnership, a UK affordable housing company, has signed a £150m revolving credit facility linked to Sonia from day one, as loan market participants say momentum is growing to leave Libor behind before the end of year deadline.

London’s Heathrow Airport flew into the investment grade bond markets again on Tuesday, while its rival Gatwick Airport was marketing a high yield issue.

Property developers R&F Group and CC Land Holdings are jointly looking for a dual currency loan of £476.7m ($653.5m)-equivalent to develop a project in London.

Repsol, the Spanish oil company, brought a junk rated hybrid capital bond on Monday, but orders fell away towards the end of the execution process as debt bankers say investors are becoming more price sensitive.

The sterling corporate bond market had three visitors on Wednesday, making it the busiest day this year, and raised a combined £1.565bn, an unusually large amount for corporate sterling issuance.

Lancashire Holdings issued its first subordinated bond this week, a Reg S dollar tier two. There has been a near complete absence of insurance capital trades from the euro and dollar markets so far this year, but bankers are confident that more will follow.

Sage Group, the UK business software company, is expected to bring a 10 year sterling trade on Thursday, as syndicate bankers say the dribble of deals seen this week looks like it will be the standard for the rest of the month.

Whitbread, the UK hotel and pub company, amended and extended its revolving credit facility at around the same time as it stormed the bond markets with a blowout debut green trade.

Whitbread, the UK hotel and pub company, enjoyed roaring demand for its debut green bond on Wednesday, as it managed to convince investors that it can plan for life after lockdowns.