UK Sovereign

The UK looks to have laid down a serious marker for other sovereigns wishing to follow it into the offshore renminbi market, with the book on its debut deal over twice subscribed and guidance well inside initial price thoughts as of Tuesday morning London time.

Jimmy Choo, the UK luxury shoes and bags company, narrowed pricing on its £136m IPO on Monday, opting for a conservative price range in light of tumbling markets and fears about IPOs.

The UK government opened books for its debut renminbi-denominated bonds on October 14. The three year deal was first offered with price guidance in the area of 2.9%, before being cut to 2.75% area in the late afternoon Hong Kong time.

The UK government's landmark RMB bond is grabbing attention this week, but financial market participants are already looking at the next steps, with panda and green bonds seen as possible next areas of focus for Chinese capital account liberalisation, according to HSBC.

Assura, the UK property company that specialises in doctors' surgeries, has raised £180m by selling new shares, in a deal completed on Friday.

The UK is gearing up to become the first government, apart from China, to sell a renminbi bond, in a deal that could come as soon as next week and be worth Rmb2bn.

The UK on Thursday launched its much-heralded debut renminbi denominated bond, the first ever from a foreign sovereign. The deal is expected to mark a big increase in profile for the Chinese currency among international issuers and investors.

The best and brightest in capital markets media turned out for Société Générale's legendary quiz night on Wednesday, this year held at McQueen bar in sunny Shoreditch.

NextEnergy Solar Fund, an alternative power investor, said on Thursday that it is to begin a placing programme that could see it issue up to £260m of new shares in a structure finding favour with similar infrastructure funds.

Abbey National returned to the sterling senior unsecured market for the first time since 2010 this week. Although the market had softened, the Santander-owned UK bank’s 15 year deal performed well.

Raising one’s game from regional bank to global is a risky strategy at the best of times, so for National Bank of Abu Dhabi to attempt the move when other firms are retrenching is is bound to draw some scepticism.

The UK government on Thursday launched its much-heralded debut RMB denominated bond, the first ever from a sovereign that is not China. The deal is expected to mark a big increase in profile for the Chinese currency among international issuers and investors.