UK

UK pub chain and brewer Marston’s asked some of its noteholders for fresh covenant waivers on Wednesday, as a measure to help mitigate the impact of a second lockdown.

Round Hill Music Royalty Fund has raised $282m in a London IPO, becoming the second listed fund focused on music royalties.

AllianceBernstein has launched a €1.2bn European real estate debt fund alongside Lacarne Capital, in the hope of exploiting a moment where the sector’s traditional sources of funding may be less forthcoming.

The Swedish Financial Supervisory Authority (FSA) said on Wednesday that it would be "reasonable" for some profitable banks to go back to paying dividends from next year, so long as the economy recovers from pandemic restrictions.

US fast food chain Chick-fil-A has issued a $1.7bn US private placement, according to market sources, in what is widely regarded as one of the tightest deals sold since the outbreak of coronavirus. Arrangers in London are looking for similar companies in Europe that could be tempted to issue.

Schroders, the global investment manager, is seeking to float a new investment trust on the London Stock Exchange, which will provide equity financing for UK mid and small-cap companies.

Gresham House Energy Storage Fund, the London-listed investment trust focused on energy storage systems, has unveiled plans for a new £200m share issuance programme over the next 12 months as it gears up for a new spree of deals.

The UK will issue its first green Gilts next year, create its own Taxonomy of green activities and oblige large companies and investors to report as recommended by the Task Force on Climate-Related Financial Disclosures by 2025, the chancellor of the exchequer Rishi Sunak said on Monday.

A number of investment banks have withdrawn from arranging deals in the Schuldschein market, according to data sets seen by GlobalCapital, as international supply shrinks and institutional focus moves elsewhere.

Professional services firm Alvarez & Marsal has hired a senior figure from Deloitte to help grow its debt advisory business in European private credit.

Bytes Technology, the cyber security and cloud services company, is pressing ahead with its proposed demerger from its South African parent Altron, through an IPO on the London and Johannesburg stock exchanges.

Renewable energy stocks have surged since it became apparent that Joe Biden — a candidate deemed to be more environment-friendly than the incumbent, Donald Trump — was likely to become the next US president. Market watchers believe this will translate into equity capital markets deals from the sector.