UK

Aquila European Renewables Income Fund, the London-listed investment trust focused on renewable energy assets, has concluded a €127.5m growth capital raising to finance its pipeline of investment opportunities.

Standard Chartered this week became the first bank to launch a Sofr-linked deal in the 144A/Reg S dollar market, as it looked to introduce the Libor replacement rate to a more global audience.

Munich Airport has launched a Schuldschein with an initial target of €200m, the first airport to enter the market since a flurry of deals in March as the coronavirus pandemic hit Europe.

Euronext is preparing for a €2.4bn equity raise after it agreed a deal with London Stock Exchange Group for the Borsa Italiana.

Deal arrangers expect bank bond supply will peter out after a flurry of deals this week. Issuers have been enjoying fantastic conditions, but most of them have finished their funding plans early so they can lay low throughout a much-feared fourth quarter. Tyler Davies and Bill Thornhill report.

Large deals and fundraising from a clutch of elite direct lenders, alongside high profile tie-ups with sovereign wealth funds, have prompted many to characterise direct lending as enjoying a golden age. But the success of some funds looks set to come at the expense of many others, writes Silas Brown.

Home Reit will become the first London-listed real estate investment trust dedicated to providing accommodation for the homeless, following the successful completion of its £240.5m IPO on Thursday.

Kaspi, the Kazakh fintech and e-commerce firm, has attracted enough orders to cover the books on its London IPO on the first day, according to sources close to the deal.

A group of some of the UK's biggest asset managers, professional bodies and banks are supporting a proposal for an SRI-themed UK sovereign debt product to deliver environmental and social benefits as part of the country’s recovery from the pandemic.

Just Group was met with strong demand for a green tier two in the sterling market on Thursday, allowing it to set a coupon of 7% versus initial price thoughts in the 7.5% area.

Suggestions that the UK government is considering a consultation process to give it the power to ban foreign firms from listing on the London Stock Exchange have horrified equity capital markets bankers.

German electricity transmission firm Amprion launched Schuldschein and Namensschuldverschreibungen (NSV) notes on Wednesday, becoming the first borrower to launch a deal into the market this month. Bankers are gearing up for a busy fourth quarter.