JP Morgan

Countryside Properties traded up 4.4% in London on Friday, after completing an initial public offering that valued it at just over £1bn. Bookrunners said its business regenerating public sector land was what won investors over.

Saipem, the Italian oil and gas engineering group, announced late on Thursday evening an 87.8% take-up for its €3.5bn rights issue, leaving the underwriters potentially on the hook for up to €427m. In a concerning sign, the shares were suspended on Friday after falling 11%, though they have recovered to 6% down.

Mitsubishi UFJ Financial Group is set to break new ground in Asia with an inaugural offering of bonds that meet total loss-absorbing capacity (TLAC) requirements.

Public sector borrowers and bankers alike applauded Carl Norrey’s contribution to the SSA business after hearing this week of his upcoming retirement. Some also expressed concern about the impact the loss of such a high profile figure could have on the market.

Standard Bank is in the market for two loans, a $750m deal for Standard Bank of South Africa and a deal for its Kenyan subsidiary, Stanbic Kenya, according to bankers.

Europe’s high yield bond market suffered a severe disappointment on Thursday evening when LeasePlan Corp, the Dutch car finance bank, was forced to pull a €1.55bn bond. Market participants were hoping the offer would show the market was functioning properly, writes Victor Jimenez.

Royal Dutch Shell has cancelled its £10.07bn ($14.56bn) bridge loan, instead opting to pay for the cash element of its $82bn acquisition of BG Group with cash on balance sheet.

Scandinavian Tobacco, the cigar and pipe tobacco maker, rose 2% when it made its stock market debut on Wednesday, before returning to the level at which its IPO was priced.

Just when it seemed like Europe’s investment grade corporate bond new issue market was regaining momentum, last week’s slow but steady pick-up in deal flow was scuppered by Monday afternoon.

On Tuesday night the loan market gathered in all its finery to hear the winners of the 13th Syndicated Loan, Leveraged Finance and Private Placement Awards at the Guildhall, in London. The results are below.

Countryside Properties has received enough demand from investors to complete its IPO. The UK house and flat developer is counting on strong interest from UK long-only funds to weather difficult market conditions.

ASML Holding, the Dutch manufacturer of lithography machines for computer chip production, has hired four banks to arrange a roadshow for its first bond in three years.