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Spreads between UK public sector borrowers’ creditworthiness could widen if proposals on further devolution in the country take effect, according to Moody’s Public Sector Europe.

With so many people in markets concerned by impending Federal Reserve tightening in the US, and a possible Greek exit from the euro, there is some irony in how subdued implied volatilities for US equities and the euro have been.

Santander UK will look to build out its holdco curve in both tier two and senior unsecured as early as the autumn, after impressing with its debut additional tier one bond this week.

Lloyds Bank has been dealt a major blow in its bid to force a buyback of enhanced capital notes (ECNs) from retail investors, after a judge ruled against the bank this week.

The dollar market has been a haven for public sector borrowers during a tumultuous time for euros, but the possibility US Federal Reserve rate hikes is causing concern that that market could shut too.

It has been an active week in the European private bespoke debt market, with Vroon agreeing a private placement while Hamburg Energienetze wrapped up a Schuldschein.

The International Capital Market Association has appointed a new chairman, following Cyrus Ardalan's decision to step down from the industry trade body and retire from Barclays.

International Personal Finance, the UK lender focusing on emerging markets, tapped the Polish zloty market on Wednesday, selling a small trade to domestic investors to refinance an upcoming redemption.

Banco Sabadell was right to approach its possible 10 year covered bond with caution. But if it had been serious about the longer tranche, it would have shown the market a representative spread.

PizzaExpress, the largest UK casual dining restaurant operator, priced on Tuesday a £55m tap of its senior secured bond to fund the purchase of 28 franchise businesses in China and Hong Kong.

Bank of Sharjah priced its first international bond deal on Monday, while National Bank of Abu Dhabi and Drake & Scull International added their names to the Middle East pipeline. But there are signs the run of Middle East deals is leading to fatigue in the conventional market.

Yorkshire Building Society mandated leads for a roadshow on Wednesday to market a euro denominated benchmark covered bond, the issuer’s first in a year.