UK

One Housing, a UK housing association focused on London and southeast England, has sold £150m of secured and unsecured US private placement notes to institutional investors.

The return of heightened market volatility this summer is leading to investors looking at defensive assets as fund managers consider how to ride out a possible turn in the economic cycle.

RSA Insurance Group won strong demand for a new £350m senior unsecured offering this week, as bankers spoke of appealing conditions in the sterling market.

Virgin Money plc has mandated leads for a European roadshow and hopes to issue its first euro denominated covered bond. The transaction is set to emerge at a challenging time, amid rising concerns that the UK will chaotically leave the European Union without reaching an exit agreement at the end of October.

Highgate School in north London has closed a £60m US private placement, joining a clutch of private schools using the instrument for long term financing.

The UK Debt Management Office said on Tuesday that it planned to hold a tender offer for up to £500m of its 4.25% 2046 Gilt. Meanwhile, Gilt-edged market makers (GEMMs) and investors have expressed their preferred timing, structure and maturity choice for the sovereign’s next syndication.

Equity capital markets investors are becoming increasingly focused on sustainable investments, particularly those linked to renewable energy. The strength of this demand could be tested this autumn, should Spanish renewable energy firm Zero-E choose to list.

RSA Insurance Group is looking at selling a new senior bond in sterling, as investors in the UK currency look forward to a bumper year for issuance from the insurance sector.

The UK Debt Management Office is seeking views from its primary dealer group and other interested parties for a tender offer for a conventional Gilt.

Deutsche Pfandbriefbank announced on Friday that it is planning to meet investors in the sterling market next week to gauge appetite for a possible senior preferred bond.

Tottenham to win its spurs in US PP market - Gewobag closes Schuldschein with ‘well over €1bn’ bids - Fresenius enters Schuldschein market on hunt for euros - BUUK Infrastructure sells US private placement - Ovo Group the latest to court SSE energy retail arm - Competition for UK housing association lending rises

UK corporate debt is at an all-time high as the risks posed by a traumatic departure from the EU in October peak. Default risk among UK industrials has deteriorated sharply in recent years while at the same time their EU counterparts have lowered their risk profile. Karoliina Liimatainen reports.