UK

The UK’s Gerald Group has signed its annual dollar revolving credit facility, with the metals trader growing the size of its banking group and increasing the size of its deal to $253.5m.

Canada’s DRI Capital is preparing to list a new fund on the London Stock Exchange focused on investing in pharmaceuticals royalties.

Two sterling public sector bond issues were announced on Tuesday, but aside from timing, the trades had little in common. The UK Debt Management Office printed £2.5bn at 50 years, while the International Finance Corp raised £350m with a seven year.

Banco Santander was the only financial issuer in the sterling market on Tuesday, tapping the currency for a non-preferred senior bond. Sterling has made a 'rocket start to 2020', according to FIG market participants.

SDCL Energy Efficiency Income Trust (SEEIT), the London-listed investment trust that focuses on investment in energy efficiency, is targeting ambitious growth in 2020. Its CEO talks GlobalCapital through its plans.

Artemis Investment Management has appointed Matthew Beesley as its new chief investment officer. He will join in April, replacing Peter Saacke, who will concentrate on managing some of Artemis’s funds.

Goldman Sachs has announced a deal called Magenta CMBS to finance Thai conglomerate DTGO Corporation’s purchase of 17 regional hotels across the UK from Marathon Asset Management. The deal is the first CMBS linked to Sonia, with the commercial real estate market proving slower than consumer assets classes to switch from Libor.

Peter Glaser will become sole head of European direct lending at Alcentra, as his former co-head Graeme Delaney-Smith is leaving the firm for retirement. Alcentra has also hired two senior people for its origination team.

Andrew Scotland has become co-head of Bayside Capital’s special situations debt activities in Europe.

Shares in NMC Health, the beleaguered UAE healthcare company, surged as much as 18% on Monday morning after it said it had received takeover approaches from buyout firms KKR and GK Investment.

Shareholders in Investec Group have approved the proposed spin-off of its £121bn asset management division Ninety One, paving the way for Ninety One’s IPO on the London Stock Exchange.

The IPO of Calisen Group, the UK operator of smart meters, is due to be priced at 240p a share according to final messages from boorkunners, slightly below the midpoint of the 225p-265p initial range, valuing the company at £1.29bn.