UK

Scottish Mortgage Investment Trust is selling US private placements, some 18 months since its last outing in the market.

Equity capital markets bankers are continuing to benefit from strong momentum in the accelerated market, with a £304m ($391.6m) trade in Network International, the London-listed UAE payments company, on Tuesday night. A large anchor order helped the deal over the line.

A new drive is being launched by investors in London today to persuade companies to root out modern slavery in their supply chains. The quest will be hard in two ways: firms will risk bad publicity if they find slavery; and investors are unlikely to make money out of the work.

Tuesday might be a day to spare a thought for any investor long Netflix as Disney launches is streaming service, Disney +. But the flotation of UK visual effects firm DNEG might just give them a way to profit from the coming war between the big streamers.

Investors who took part in an accelerated sale of shares in Trainline, the UK rail tickets booking website, on Monday evening, booked a 3.4% gain by Thursday's close, vindicating the decision by banks to waive a lock-up clause on private equity firm KKR, allowing it to trade out of the stock earlier.

UK mining company Sirius Minerals kept the dream alive with a market update on Monday, unveiling discussions with potential investors over a $600m financing package. Sirius’s shares saw a meteoric rise of up to 28% on Monday morning but the initial excitement fizzled out quickly.

The UK Debt Management Office has chosen the banks to lead the re-opening of its 0.125% 2041 index-linked Gilt, which is scheduled to take place next week.

The IPO of DNEG, the UK-based motion picture visual effects company, is being well received among investors, following the launch of book-building last week. While banks are yet to send a covered message they are confident in the transaction and are meeting US investors this week.

Royal Dutch Shell’s choice this week of a tight syndicate, heavy with US banks, to lead $4bn and €3bn of bonds has laid bare the sense of vulnerability among banks outside the US bulge bracket, as some expressed resentment at being left out of a lucrative and prestigious mandate.

Royal Bank of Scotland launched its debut social bond on Friday, attracting over €2bn of orders for its €750m offering. The trade benefited from a favourable backdrop in the primary market and an increased appetite for UK credit caused by a scarcity of issuance from the country this year.

Standard Chartered sang the praises of the Reg S only dollar market this week, after building a chunky order book behind its first tier two in the format in seven years. The deal kick-starts a busy period of capital issuance for the UK bank.

The Society of London, better known as Lloyd’s of London, is marketing a US private placement (PP). The insurance organisation's debut in PPs in its 333 year history is another sign the market is attracting a wider range of UK companies than ever before.