UK

The European bond market has lost none of its charm or interest, said one of its most experienced bankers this week, on the verge of his retirement. Hugh Carter, Commerzbank’s head of credit syndicate, is leaving the bank on September 18.

The tension between the EU and UK over Brexit ratcheted up this week, with the prospect of the UK reneging on the EU-UK Withdrawal Agreement rearing up. Rising political tension could now boil over into talks on financial services.

The UK Debt Management Office raised £8bn ($10.24bn) with its first 15 year syndication on Tuesday morning, the first of two Gilt syndications it will hold during September.

Home Reit, a new real estate investment trust focused on homeless accommodation, is preparing to raise £250m via an IPO on the London Stock Exchange.

EMEA equity capital markets started September with a flurry as banks rushed to print deals in the first week of the traditionally busy autumn issuance window. There is far more to come though and investors are concerned that some deals will struggle to find the attention they warrant.

Squire Patton Boggs has appointed a specialist equity capital markets lawyer as a new partner in its London office.

Ignitis Grupe, the state-owned Lithuanian energy and utility company, has filed IPO paperwork in preparation for a listing in Vilinus and London.

Greencoat UK Wind’s £350m ($467m) debt funded acquisition of a stake in two wind farms from SSE has pushed the infrastructure fund close to its leverage cap, with the fund already planning a new round of equity raises to pay down the debt.

Virgin Money UK tested the strength of the sterling market this week by looking to raise tier two debt. The UK lender was able to tighten pricing by 50bp and print inside fair value, and the new trade accompanied a tender offer of the issuer’s old securities.

Ireland's Dalata Hotel Group was in the market with a 19.9% accelerated share placing on Tuesday, a move the company said would give it the firepower to take advantage of growth opportunities stemming from the Covid-19 pandemic.

The UK Debt Management Office has chosen the banks to lead the first ever 15 year Gilt to be sold via syndication, which will hit the market next week

Top tier UK universities are likely to issue public and private debt in the fourth quarter of this year, to fill a funding gap from collapsing summer revenues and dwindling numbers of international students. With operating conditions for the sector decidedly bleaker, many expect a clutch of lower ranked UK universities to go bust in the next few years.