Lloyds Bank
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The UK’s LXi Reit is already putting its new revolving credit facility to work, with the property investment company making acquisitions totalling £55m. -
The UK Debt Management Office on Friday announced the syndicate that will run its forthcoming tap of the 2054 Gilt, as well as its plans for a further Gilt syndication to be held during the third quarter of 2019.
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Buy and sell-side firms have rejected suggestions that they should have to post additional margin or participate in default funds in the aftermath of last year’s default at Nasdaq clearing.
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UBS replaces EMEA president — Lloyds loses PP agent — Deutsche Bank reorganises treasury team
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A private debt banker for Lloyds Securities in New York has left the bank, with one source suggesting he will start covering US private placements (US PP) for another arranger.
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Volkswagen Financial Services printed a £300m 3.25 year bond on Thursday that was twice oversubscribed. It has not been long since the A3/BBB+ rated German carmaker came to the sterling market. Only last month it sold a £350m three year note.
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Barclays said on Thursday that it will redeem three of its additional tier one (AT1) bonds in September, though a weaker pound means that paying the debt back will eat into its common equity tier one ratio.
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As the market prepares for Libors to end their run as the world’s most prevalent reference rates, there is growing support for the benchmarks to be reprieved.
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Industrial and Commercial Bank of China and Banco Santander tapped the sterling market for senior bonds this week and what bankers said were high-quality orders led both issuers to increase the size of the benchmark transactions.
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Lloyds Bank was able to increase the size of its second dollar bond issued in less than a year, but still paid a minimal new issue concession. It followed Munchener Hypothekenbank (MuHyp) which issued a highly oversubscribed and tightly priced Pfandbrief on Tuesday.
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The City of London Corporation will raise £450m ($562m) of debt from its first US private placement deal, surpassing expectations. The debt will be issued under a green and sustainable financing framework.
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The UK’s Bruntwood SciTech has signed a £185m green facility, with the property company planning to use part of the funds to develop specialist scientific workspaces in the north of England.
