UK

Santander UK took advantage of improving sentiment in the euro market to launch a new senior bond from its holding company on Friday, while Hamburg Commercial Bank announced its intention to raise tier two capital.

UK water utility companies have begun to test public and private debt markets for the first time since regulator Ofwat’s price review, and the deadline to appeal it, passed. The regulator’s decision will have large ramifications for the companies’ profiles in capital markets, writes Silas Brown.

BTIG Ltd, the US broker dealer, is expanding its EMEA equities sales and trading business in London, with four senior hires.

Drinks group C&C to sell US PPs as Irish firms return — Almarai feasts on $100m for MENA expansion — Lufthansa flies by Schuldschein market for short dated debt — Archer plots loan A&E — Greencoat UK draws debt for wind farm buy

BPCE raised senior bond funding in sterling on Thursday, making use of constructive conditions in the currency. The lender launched its deal at a spread that, on an after-swap basis, was roughly in line with where it could have landed in euros.

Equity capital markets bankers have welcomed the return of rights issues as the total volume of underwritten equity raises announced year-to-date ramps up. Now, they are thirsty for more.

Several chances to demonstrate commitment to corporate sustainability have occurred in the US private placement market recently, and the market has fallen short in almost every case. Most of the PP market is as unfamiliar with using the term 'ESG' as it is to yelling 'YOLO'.

HSBC will not be making cuts to its equity capital markets or its equity trading capabilities after announcing the results of a strategic review on Tuesday. The bank will be reducing headcount in sales and research, but said that its execution ability in ECM will not be affected in any way.

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, February 17. The source for secondary trading levels is ICE Data Services.

Britvic, the UK soft drinks company that owns brands Robinsons, Tango and Purdey’s among others, has issued £150m-equivalent of US private placements in sterling and euros.

Ninety One, the asset management division of Investec, has announced its intention to float on the London Stock Exchange, formally launching what is likely to be one of the largest UK IPOs this quarter.

The UK Municipal Bonds Agency has chosen a syndicate of three banks to arrange a series of investors meetings starting on Tuesday for its first bond, a five year Sonia-linked floater for Lancashire County Council.