UK

The UK’s LXi REIT has signed a £100m ($125m) revolving credit facility, as loans bankers say the selection of Boris Johnson as prime minister will put some sterling borrowers into “wait and see” mode.

The sellers of Oltin, a closed-ended fund seeking to invest in Uzbekistan, have decided to postpone a public listing and proceed with private fundraising after investors expressed a preference for an unlisted fund structure.

Sirius is trekking the globe marketing a $500m senior secured note that is key to unlocking a $2.5bn revolver and $400m in convertible bonds. The financing will be used for a gigantic fertiliser mine in Yorkshire, UK. The coupon for the bond is expected to hit the double digits, making it one of the highest yielding issues of the year.

Alcentra, a European subsidiary of Bank of New York Mellon, has raised €5.5bn for a new private debt fund, a fundraising that puts it alongside Ares Capital and BlueBay Asset Management in securing giant commitments to deploy to Europe’s mid-market borrowers.

Risk adverse equity capital markets banks have largely moved away from bidding for auctioned block trade activity in 2019, and are concentrating on large client-mandated business, which they can de-risk before they launch.

Voyager Air Ltd, the Guernsey-domiciled aircraft leasing firm, has cancelled its $200m IPO on the London Stock Exchange, blaming difficult market conditions.

Regional REIT, the UK property investment trust managed by London & Scottish Property Investment Management, has raised £62.5m of equity capital, £12.5m more than expected, but sources close to the deal say it was a difficult sell because of investor concern about Brexit.

Lloyds Bank was able to increase the size of its second dollar bond issued in less than a year, but still paid a minimal new issue concession. It followed Munchener Hypothekenbank (MuHyp) which issued a highly oversubscribed and tightly priced Pfandbrief on Tuesday.

Acciona nabs €155m from green Schuldschein - Places for People seals €150m private placement - Germany’s Badenova sells Schuldschein - Pershing Square nabs $400m in bond private placement - Claranova debuts in euro PP market - Pension Insurance Corp puts £40m into Scottish housing association - Oman's Octal raises $625m for expansion

The City of London Corporation will raise £450m ($562m) of debt from its first US private placement deal, surpassing expectations. The debt will be issued under a green and sustainable financing framework.

Asset managers are looking to the emerging markets as a hedge against a slowdown in the US and Europe.

Tesco Personal Finance ratcheted in the pricing on its debut senior unsecured bond on Thursday, starting with a high new issue concession but bringing it in by 35bp amid hefty investor demand.