UK
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◆ Borrowers take £500m from undersupplied market ◆ Despite lower spread Northern Powergrid's longer maturity trade more popular ◆ Sterling volumes down around 10% from March 2024 -
Real Gilt on blockchain will force market to address technical, legal and risk challenges
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Rising defence spending to create opportunities for lenders
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◆ Subscription ratio and spread move in line with recent deals ◆ Low single digit concession needed ◆ Small premium paid over sterling
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The solar energy investment company slashes 30bp off part of its loan margin
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The sovereign has raised more than £59bn from syndications in this financial year
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◆ Sterling still open for business ◆ Slight preference for longer tranche ◆ Wessex Water next up
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◆ Fair value calcs far from straightforward ◆ Largest book for index-linked Gilt offering ◆ Less index-linked issuance in 2025-26?
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◆ Wessex Water and Bunzl in sterling ◆ Manchester Airport and Mondi in euros ◆ Market shrugs off Friday’s weak non-farm payrolls number
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◆ First sterling benchmark from UK water this year ◆ Lands inside fair value ◆ Comes amid wild moves in rates market
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Loan brings to total revolving credit to £850m
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Listed investment company is striving to cut debt costs
