Alice Gledhill is a reporter covering bank and insurance debt with a focus on the primary market. She also writes regularly about banking regulation. She joined IFR and IFR Markets in 2014.
A four-year absence and a healthy concession helped Goldman Sachs notch up a £2bn-plus book in the sterling sector on Wednesday, the second US bank to visit the European market this week.
Banco BPM ventured into the market to sell the fourth Italian covered this month, but each deal has priced up to 15bp wider than the last to twist the arm of investors spooked by the political backdrop and limited performance.
Investec Bank bolstered its Tier 2 capital with a £420m 10NC5 transaction on Tuesday, part of a broader exercise that also took out £267m of a costly legacy bond that carries a 9.625% coupon.