UK Sovereign

London transport, it’s always a pleasure. But when you’re on your way to meet a senior debt banker over from the United Arab Emirates, seeing your journey time triple because of the unannounced closure of a tube line can be the occasion for a fantastic mix of stress and embarrassment.

Rabobank has added to its European loan syndications business with a senior hire.

UK challenger bank Aldermore began bookbuilding on its £300m IPO on Friday, a day after peer Virgin launches its own deal.

Peter Schwartz is joining law firm Paul Hastings as a partner focusing on high yield, having previously been a partner in Milbank’s global securities team.

The London Stock Exchange (LSE) is looking to play the role of provider of key European infrastructure for investors looking to increase their China exposure, and for Chinese investors looking to raise funds in Europe in RMB or other currencies.

National Bank of Abu Dhabi will underscore its commitment to its wholesale banking business by splitting the UK part of its operations from its private banking arm and moving as many as 100 staff to Canary Wharf.

While the financial world has been enduring lay-offs and that ugly word “downsizing” at every turn over the last few years, Commerzbank’s Andrew Nicola has been fighting the tide by producing an army of mini-MTNers.

European credit markets had a nasty turn today, which salespeople and analysts blamed on news that Bill Gross, the so-called “Bond King’”, had decided to leave Pimco, the world’s biggest bond investor – though perhaps just because they wanted something to blame. Yet Babcock International, the UK engineering services group, still managed to issue a €550m bond – its first in the European market.

Virgin Money launched a long-awaited IPO on Thursday, making it the second challenger bank in the market.

SIG, a Sheffield-based specialist building products company, has refinanced a £250m revolving credit facility that was due to mature in May 2015.

Enterprise Inns, the UK pub group, priced £249.521m of senior secured high yield bonds on Tuesday to yield 6%, as part of a liability management exercise.

Enterprise Inns expects to price £200m of 2023 notes on Tuesday, even as market participants begin to question the strength of the sterling high yield bond market following the collapse of UK phone retailer Phones 4U, and the recent struggles of primary issuance in the currency.