UK

Conduit Holdings, a reinsurance start-up, has confirmed that it is to float in London this year. It is seeking $1.1bn equivalent of capital to take advantage of higher insurance premiums after two years of losses for the industry.

Will Sir Robert Stheeman become the Green Knight?

The UK’s announcement that it would begin issuing green Gilts next year is raising hopes that it will inspire more green bond issuance from UK borrowers. But market participants are eager to see how the UK handles setting up a green debt programme and its own green taxonomy. Lewis McLellan and Jon Hay report.

NatWest Group and Société Générale reopened the additional tier one (AT1) market to some fanfare this week, as investors showed they were hungry for yield by snapping up the deals.

Rolls-Royce, the UK aerospace company, completed its rights issue on Thursday, with the cash call proving to be a resounding success. The deal benefited from a late boost on Monday, when US drug company Pfizer said it had enjoyed successful late-stage trials for a Covid-19 vaccine, giving investors hope that Rolls-Royce engines would be powering more planes into the sky sooner than expected.

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.