Lloyds Bank

The UK Debt Management Office swatted away weeks of Gilt volatility to tighten pricing, hit the upper end of size expectations and attract overseas demand with a £4bn tap of its 2.5% 2065s on Tuesday.

Euro Garages has widened the discount on its £250m term loan ‘C’ to 97.5, with prospects for sterling issuance less clear following a pulled deal last week.

Enterprise Inn, the UK pub group, on Monday began marketing a new sterling refinancing offering amid growing instability in the market after Daisy, the UK telecom services supplier, pulled its deal last Friday.

UK government bonds this week joined the country’s currency in taking a hammering, but public sector bankers are confident that a scheduled Gilt syndication next week will go well — and there could also be arbitrage opportunities in sterling.

The largest telecom services reseller in the UK, Daisy Group, on Tuesday opened a four day roadshow for its debut high yield bond, unfazed by Brexit tensions in the sterling market.

Barclays, Lloyds Bank, Nomura and Royal Bank of Scotland will run the sale, scheduled for the week beginning October 24.

Cabot Credit Management, the debt purchasing and recovery business, has amended its senior secured revolving credit facility and lowered the margin but kept the same group of lenders.

The Italian subsidiary of Crédit Agricole has issued the longest Obbligazioni Bancarie Garantite ever seen with a dual tranche offering that boasted one of the most granular distributions.

The Italian subsidiary of Crédit Agricole has issued the longest deal ever seen in the history of the Obbligazioni Bancarie Garantite market, and with 140 orders, one of the most granular distributions.

The Spanish bank has mandated leads for a roadshow to market what will be its first covered bond in six years.

The Bank of England confirmed on Monday it would stress test UK banks for a broader range of potential threats in 2017, as it set out the timetable for the publication of this year’s results.

The sterling market's strength was on full display this week, with £1.1bn in new investment grade deals heading into investor pockets — a good sign that supply may be able to replace the BoE’s intended £10bn in purchases.