UK

L&G's head of portfolio management on everything equity release after debut deal

◆ Telecoms firm takes €1.5bn ◆ Some premium needed at the long end ◆ Demand highest for shortest tranche

◆ Deal attracts highest bid-to-cover ratio of the year so far ◆ Extensive marketing helps fuel demand ◆ Pinpointing fair value tricky

◆ UK retailer taps sterling with 6.5 year bond ◆ Brand's first bond since 2020 ◆ Deal lands close to fair value

New hires to co-chair Cahill’s digital infrastructure finance practice group

Upper mid-market firms eschew ‘exciting’ stories as cracks emerge in European private credit

Eight banks provided loan facility to company

Investors and bankers consider prospects for UK country's first bond issue

◆ Junior note lands tight to Class As ◆ No concession needed ◆ Lack of sterling supply allows for tight pricing

◆ Peak book the largest for an IG corporate in sterling since early November ◆ Issuer takes size at a tight spread ◆ Wide range of fair values spotted

◆ Second euro social bond this year ◆ Book continued to grow between guidance and allocation ◆ Spread tightens 33bp to land near fair value

◆ UK lender stays patient for volatility to subside before commencing unsecured euro funding ◆ Investors show strong support for both tranches ◆ Pricing at fair value, though some debate on longer leg