Banks

Bain Capital-backed market research business Kantar showed this week that investors still have some bite in the high yield market. Buyers forced the issuer to flex numerous covenants, tinker with the tranches, delay the issue and consent to unusually juicy coupons. The deal may not be a sign of things to come, however, as Crown waltzed through its bond launch, setting a new low coupon record for a fixed rate bond.

James Janoskey will head up JP Morgan’s investment banking activities for energy in Europe, the Middle East and Africa.

Instituto de Crédito Oficial (Ico) and Investitionsbank Berlin (IBB) found strong demand in the short end of the euro curve on Wednesday, which SSA bankers are calling the new sweet spot, despite the deeply negative yields.

Commerzbank, Deutsche Börse and asset manager MEAG have made further progress in adopting blockchain technology in post-trade services.

France’s FFP issued a €300m no grow seven year debut bond on Wednesday, marking a rare market outing from an unrated French credit this year.

The UK’s GoCo Group has refinanced its bank debt with £115m of loans, with the insurance and price comparison group more than doubling the size of its revolving credit facility as it looks to fund a new “transformative” strategy.

Schroders says it is the first asset manager to link its revolving credit facility to environmental, social and corporate governance metrics, as the financing structure continues to find widespread use in the high grade loan market.

Banks could ramp up the supply of new bond deals towards the beginning of November, according to FIG DCM officials, after taking a slower and more cautious approach to the market in recent weeks.

A group of shareholders in M&G have sold £117m ($150.3m) of stock in the company, following its demerger from its former parent Prudential, via an accelerated bookbuild.

Andrea Diamanti is set to become deputy CEO of UniCredit Bank Russia. Fabio Fornaroli will now lead UniCredit’s Central and Eastern Europe investment bank.

JP Morgan has appointed Alex Watkins as head of equity capital markets for the UK, replacing Nicholas Hall. Meanwhile, the bank has picked a new head of its consumer and retail sector coverage team for UK investment banking.

A senior loan syndications banker in HSBC’s Hong Kong team has left the bank.