UK

The UK Debt Management Office on Monday chose the banks to lead the sale of its second sukuk via syndication. Like the sovereign’s debut sukuk in 2014, none of the UK’s Islamic banks are included on the mandate.

Vaccine optimism and the end of Brexit has meant that the UK has enjoyed its best ever start to a year in the equity capital markets.

Canadian media conglomerate Thomson Reuters has sold £745m of shares in London Stock Exchange Group (LSEG) to settle tax liabilities arising from the UK exchange operator’s acquisition of Refinitiv, the former Thomson Reuters finance and risk business.

The SSA market on Thursday was digesting the result of the previous night’s Federal Reserve meeting. Fed chair Jerome Powell took a dovish stance in spite of high economic growth, and some market participants believe that the strengthening inflation outlook could hurt demand for bonds at the long end of the curve.

Barclays and Standard Chartered gave euro investors rare opportunities to build subordinated exposure to UK banks this week. The issuers were looking to benefit from strong market conditions during a more stable trading period for interest rates.

SSP, the UK food outlet operator, launched a £475m rights issue on Wednesday to strengthen its balance sheet in order to put itself in the best position for the reopening of its businesses this summer when the UK hopes to come out of lockdown.

Paragon Banking Group this week became the first UK lender to launch a subordinated bond in an ESG format. The bank was looking to replace its only outstanding tier two with a new green-labelled transaction.

MUFG has hired three managing directors to help boost its coverage of private equity sponsors, as well as direct lending.

Europe’s crop of pre-Easter IPOs are moving swiftly thorough the pipeline and investors are engaging with deals after an improvement in risk sentiment in line with recovering secondary markets and several successful block trades last week.

Commodity trader Trafigura has launched US private placements, according to market sources, its second entrance to the market in less than 12 months.

US private equity group Indigo Partners has reduced its stake in Wizz Air, the Hungarian low cost airline, through an accelerated bookbuild.

Standard Chartered gave euro investors another rare opportunity to build exposure to UK subordinated debt on Tuesday, as it followed Barclays in issuing a tier two transaction in the currency.