UK
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Issuers are keen to lock in tighter levels before chancellor Rachel Reeves' big announcement -
◆ UK electricity brings 12 and 30 year sterling bonds ◆ Tighter spread on longer tranche ◆ Sterling supply from IG papers down 21% year-on-year
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◆ UK consumer goods firm prints seven and 12 year paper ◆ Issuer ups size on big demand ◆ Demand skewed towards the belly of the curve
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◆ Barclays raises €1.75bn in dual tranche senior ... ◆ and issues Singapore dollar AT1 ◆ Lloyds pulls $9bn of orders for US dollar AT1
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◆ UK tobacco company sells larger than expected €1.2bn dual trancher ◆ Final demand strong despite tighter yields ◆ Sub/senior gap set in the low-100bp area
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◆ Fashion retailer's first bond since 2023 ◆ Book peaks at €3.6bn ◆ VIA Outlets brings €500m green trade
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◆ Holders win write-down ruling but path to recovery uncertain ◆ StrideUp brings Islamic innovation to UK securitization ◆ Emerging market bonds have an off-week (almost)
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The hire aims to strengthen the bank's middle market direct lending platform
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Issuers paid higher new issue concessions this week as investors turned more selective
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◆ Sparse calendar after a busy window ◆ Strong bid for a high grade name in a niche sector ◆ Single digit new issue concession paid
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Sovereign bags record size as 15 year proves 'sweet spot'
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◆ UK water company prints 6.75 year bond ◆ Orders stick at almost seven times deal size ◆ Deal lands close to fair value
