Lloyds Bank

Germany’s Daimler returned to the market on Monday for a £350m five year trade, but European Central Bank bond buying means the deal did not quite look as dazzling against the car company’s euro curve as it has done in recent trades.

Triple Point Social Housing REIT has almost doubled the size of its sterling revolving credit facility, as UK housing firms continue to shore up funding during Brexit uncertainty.

Sovereign Housing Association, which has 58,000 homes, mainly in the southwest of England, received chunky demand for a 29 year sterling bond issue on Monday, as the extension of the UK's Brexit deadline piqued investors' appetite for sterling assets.

The UK Treasury’s decision to raise the cost of borrowing for local authorities has caused quite a stir in private placement markets, as players realise institutional investors are prepared to offer debt at more attractive rates than the Public Works Loan Board (PWLB). But the more adventurous local authorities may find capital markets a tougher pitch to play on, writes Silas Brown.

Royal Bank of Canada was able to raise £400m of senior funding as though it was on 'autopilot' in the sterling market this week. It is the third Canadian issuer in a month to seek funding in this currency counting as total loss-absorbing capacity (TLAC).

Carnival, the Anglo American cruise company, has launched a €600m 10 year trade, with the corporate bond pipeline filling fast.

High grade corporate borrowers were quick out of the traps on Monday, cramming in before the blackout period to raise around €5bn-equivalent of bond funding from order books many multiples of that.

Moody’s said on Wednesday that investors’ approval of Lloyds Bank’s request to convert the interest basis on a covered bond from Libor to Sonia was credit positive for the issuer and bodes well for the rest of covered bond and structured finance markets, which must transition to Sonia before 2022.

Ark Data Centres has signed a £450m loan, with the UK technology data centre company breaking a long term trend in Europe’s loan market to more than double its lending syndicate.

Northern Powergrid, a rare issuer in the UK market, issued a 40 year sterling bond on Wednesday that found a strong reception, in a week that has proved patchy for issuers in the currency.

Lloyds Bank Corporate Markets was marketing its first senior unsecured bond in euros on Friday, taking advantage of a quiet primary market. The issue gave investors a ‘healthy’ new issue premium, according to a FIG banker.

UK train leasing firm Porterbrook has entered the US private placement market, according to several market participants, seeking to raise debt under its sustainability programme.