UK

Equity capital markets bankers are hoping to get back to work soon after a pause in issuance on Monday because of secondary market fears over the spread of the coronavirus.

German supermarket chain Lidl has raised a £515m-equivalent loan from a consortium of Chinese and Taiwanese lenders for two of its European subsidiaries, in the company’s first outing in Asian capital markets.

Indorama Ventures, a petrochemicals company headquartered in Bangkok, has mandated banks to raise Schuldscheine via a European subsidiary, according to several people familiar with the situation. The deal is a further sign of the instrument’s growing popularity in East Asia.

Cabot Square Alternatives, a new closed end investment fund focused on alternative infrastructure and property assets with an environmental, social and governance angle, has announced its intention to float on the London Stock Exchange.

Lloyds Bank returned to the sterling covered bond market on Monday with its first deal of 2020. It capitalised on the scarcity of short-dated Sonia supply with the first three year bond from a UK issuer in six months, which helped it to price its deal marginally inside fair value.

Shawbrook Bank has appointed a head of fintech strategy as it looks to launch a new cloud-based lending platform.

Dubai’s Emirates NBD Bank has sold a small stake in NMC Health, the beleaguered UAE private healthcare company, to close out a loan owed by Infinite Investment, a vehicle for two of the company’s controlling shareholders.

Vivo Energy, the pan-African fuel distributor, has added Numis Securities to its corporate broking roster.

Several US private placement agents have told GlobalCapital that their market is finally starting to take sustainable financing seriously. But while there is an evident buzz, most feel that anything tangible, such as pricing advantages prompted by dedicated environmental, social and governance-focused funds, is still far off.

UK flooring company Victoria issued a €170m add-on to its €330m of outstanding 5.25% senior secured notes, due in 2024. The royal carpet maker successfully issued its debut bond last summer after failing at the first attempt in 2018 in a horribly timed launch.

Trades in Prosus, the Amsterdam-listed technology holding company, and UAE payments company Network International flew out of the gates on Tuesday night, and market sources say Europe is finally becoming more of a destination for tech deals.

Investors flocked to a rare offering of restricted tier one (RT1) capital from Phoenix Group Holdings this week, allowing the insurance company to tighten pricing by 37.5bp. The bonds will form part of the financing for the UK firm’s acquisition of ReAssure Group from Swiss Re.