UK

New York-based hedge fund Third Point has offloaded a £42.3m chunk of its stake in Energean, the London-listed oil and gas producer focused on the Eastern Mediterranean.

The UK wing of the US private placement market has shed over a third of its year-on-year volume, as the private debt instrument has struggled to stay competitive with bank loans and the sterling bond market. Agents argue that illiquidity premiums must drop for the market to regain its appeal.

CVC Credit Partners has hired two partners to join its private credit team, one of which will be co-head of private credit.

Bankers and investors are unconcerned by an inquiry by UK members of Parliament into the cost-effectiveness of syndicated Gilt issues.

European banks will have longer than expected to correct the fallback language in their dollar-denominated additional tier ones (AT1s), now that dollar Libor has been given an extra 18 months to live.

Flutter Entertainment, the parent of bookies Paddy Power and Betfair, has returned to the equity capital markets with a £1.1bn share sale to finance its acquisition of a stake in FanDuel Group, the New York-based fantasy sports and online casino company.

Barclays plc priced a short-dated senior deal about five basis points through fair value in the dollar market this week, as Brexit negotiations come down to the eleventh hour.

The House of Commons' Treasury Select Committee has asked the UK Debt Management Office to answer a series of questions on its bond syndication programme, specifically on the pricing of its bonds and the fees it pays to bookrunners.

Building a UK green government bond market would take a minimum issuance of about £30bn and “some time” for the UK to establish a benchmark size for the market, according to the head of the UK Debt Management Office.

Sub-investment grade Italian lenders Banco BPM and Illimity Bank were well-supported in the euro bond market on Thursday, as investors showed they were more than happy to look at riskier names in their search for yield.

Peruvian billionaire Eduardo Hochschild has sold a chunk of his stake in Hochschild Mining, the London-listed gold and silver mining company, raising £123m.

Shares in Conduit Holdings, a new London-listed reinsurance company, rose on its first day of trading after a strong IPO, with investors keen on backing the new vehicle.