UK

Calisen Group, the KKR-backed manufacturer of smart energy appliances, is preparing to raise £300m via an IPO on the London Stock Exchange, having announced its intention to float on Thursday.

Oil major BP's A1 rating from Moody's, which is somewhat strained, has been strengthened by its $625m sale of its interest in a North Sea oil field to Premier Oil.

Danske Mortgage Bank, Santander UK, Raiffeisenlandesbank Hypothekenpfandbrief and UniCredit Bank AG were marketing covered bonds on Wednesday, steering well clear of negative yields by tapping into healthy demand for long dated assets.

The Sonia-linked covered bond market is showing signs that it is 'maturing', with Commonwealth Bank of Australia launching a new deal in the format on Tuesday and Coventry Building Society looking to follow in the footsteps of two of its compatriots early in 2020.

Premier Oil has become the first company to announce a major ECM transaction in 2020, a £385m ($500m) capital increase to repay debt and finance the acquisition of two UK North Sea oilfields from BP.

Equity capital markets bankers are looking to bring several UK transactions to market over the next month and are hoping that investor risk appetite, healthy at the end of 2019, will allow them to get off to a quick start to the new year.

NN Investment Partners has hired a senior convertible bonds investor for its London team.

The UK’s National Grid Electricity Transmission is set to make its debut green bond issue in euros, when it returns to the currency for the first time for more than a decade.

Atlantica Yield, formerly the UK-based energy yieldco Abengoa Yield, has launched a debut US private placement, which is the first US PP offering in 2020 in Europe.

Leeds Building Society opened books on Monday for its second Sonia-linked covered bond. The trade benefited from an ‘unparallelled’ level of demand, reaching almost four times its £600m size.

Nationwide Building Society issued the first sterling covered bond of the year on Friday, without needing to pay any premium over the tight trading levels of its existing bonds.

GlobalCapital has penned an open letter to UK prime minister Boris Johnson ahead of his negotiations next year on the UK's future relationship with the European Union.