Banks

The UK’s The Gym Group has refinanced its sterling revolving credit facility with a bigger deal, as the company launches a new, smaller gym format.

The takeover fight for online food delivery company Just Eat took a vitriolic turn this week, with merger frontrunner Takeaway.com accusing debt-backed hostile bidder Prosus of “scaremongering”.

Ageas sold a restricted tier one (RT1) bond this week in an effort to replace some of its grandfathered securities. The insurer secured tight pricing, bolstered by about €5bn of orders.

A director working on debt advisory and structuring at Barclays is leaving the bank to take up a new job on the buy-side.

Russian steel maker Metalloinvest has raised its third syndicated loan of the year, according to bankers. The deal has a fixed rate.

UniCredit’s plan until 2023, revealed in London on Tuesday, involves rewarding shareholders with larger distributions on the back of a growth in revenue. The payment of these distributions will be given greater protection, thanks to the creation of a new intermediate holding company to lessen the bank’s regulatory capital burden. Meanwhile, chief executive Jean Pierre Mustier was clear that large M&A does not form part of the bank’s plans.

Ocado, the UK online grocer, has made its first foray into the equity-linked market with a £600m convertible bond due in 2025 to finance investment in its technology platform Ocado Solutions, which produces robotic warehouses for foreign partners.

Commerzbank has hired Jason Ho as its Hong Kong-based head of Greater China primary bonds, to strengthen its debt underwriting franchise in Asia and in China.

UBS has reorganised the senior management team of its global banking business in Asia Pacific, less than three months after revamping its investment banking unit globally.

OneConnect Financial Technology, a unit of Chinese conglomerate Ping An Group, hit the road on Tuesday to meet investors for its New York Stock Exchange IPO.

RBL Bank’s qualified institutional placement (QIP) was multiple times covered within hours of launching on Tuesday in India, said a source familiar with the matter.

Ellaktor is looking to tempt international investors with a carefully designed green bond that excludes a shaky construction business. The Greek company is looking to replace most of its long-term capital structure, currently heavy on local bank loans.