UK

Merian Chrysalis Investment Co, the closed-end investment fund focused on private companies, has launched its second follow-on offering since it listed on the London Stock Exchange in November last year.

Swedish credit management company Intrum and UK-based gambling giant International Game Technology dipped into the favourable markets again with big €750m and €500m issues .

Radius is set to become the first housing association from Northern Ireland to issue US private placements, with Barclays prepping a deal of at least £100m.

Two of the smaller airports in England are looking to raise US private placements, according to sources in the market, as players note that airports and port operators in Australia and Europe have carved out a particularly strong section of the market in the past 12 months.

Bank of Ireland was unable to complete the sale of a tier two transaction this week, after the UK Parliament descended in chaos. Bond buyers have by and large taken a pragmatic approach during Brexit negotiations, but market participants said that on this occasion the Irish issuer had “misjudged” how nervous investors were, writes David Freitas.

A chaotic weak in Britain’s Parliament has cast further uncertainty over UK ECM as sellers consider whether to bring forward transactions to avoid running up against a potential new Brexit deadline in January. However, talk of a general election this autumn could make execution difficult.

Inflation-linked Gilts suffered a steep sell-off in the secondary market on Wednesday as investors priced in proposed changes to the methodology of the Retail Price Index (RPI).

Paddy Power looks to cash out with US private placements — Spurs up private placement deal to £525m — LXi Reit draws new revolver for acquisitions — AMS lines up €4.2bn bridge loan in Osram swoop — Ukraine’s Kernel to tap lenders for A&E

The UK is preparing to launch its second sukuk in early 2020, said city minister John Glen on Wednesday in a speech at an Islamic Finance Week event held at Mansion House.

The US private placement market is set to host its first gambling firm from the UK and Ireland this month. Paddy Power's PP could herald a stream of trades from the sector, but investors should beware the risks of herding into any old deal offered to them.

A manic Wednesday night of block trades capped off a good week for ECM volume as sellers took advantage of a positive market environment.

Sajid Javid, the UK chancellor of the exchequer, said on Wednesday that the government has no intention to stop the sale of Gilts linked to the Retail Price Index (RPI), and that no changes would occur to the methodology until at least 2025.