Europe

Intermediate Capital Group, the UK alternative asset manager, has hired Philippe Arbour from Palamon Capital Partner to help further develop its Senior Debt Partners strategy.

Anyone who thought the culmination of a trade deal between the EU and UK would provide a shining ray of clarity for financial services as to the level of market access between the two has been proved wrong. Little progress on regulatory equivalence decisions has been made, and while this points the way towards divergence, it is still unclear how exactly the UK would go about this.

World Bank hired banks on Tuesday to lead a new 40 year euro sustainable development bond — the supranational’ s longest ever benchmark in the currency. The deal will be the latest example of public sector borrowers venturing longer in the euro market this year.

The dollar market is on an unbelievably hot streak, with deal after deal smashing records thanks to cash-rich investors and higher yields in the US Treasury market.

Specialist private lender Kartesia has appointed a full time head of corporate social responsibility and environmental, social and governance issues.

Banco BPM was unable to tighten through initial price thoughts for a new additional tier one on Tuesday, as it looked to maximise its regulatory allowance for the asset class.

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, January 11. The source for secondary trading levels is ICE Data Services.

UniCredit raised €2bn of preferred senior funding with a careful trade on Tuesday, as investors come to terms with a new pricing paradigm in the bank bond market.

Deutsche Pfandbriefbank (PBB) has mandated leads for a three year dollar covered bond in a move that underscores the importance it attaches to matched currency funding.

The billionaire Arora brothers have sold £218m ($298m) of shares in B&M European Value Retail, the UK budget retail chain, through an auctioned block trade.

Apollo Global Management has continued to selldown its stake in Watches of Switzerland, the UK luxury watch retailer, following a strong rally in the stock since its IPO on the London Stock Exchange in May 2019.

Moonpig, the UK online cards and gifts company, has published a registration document to list on the London Stock Exchange. Sources close to the deal are confident there is enough demand for it to become one of 2021’s early success stories.