UK

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.

Pension Insurance Corp (PIC) offered a pickup over similar instruments for its debut restricted tier one (RT1) transaction on Thursday. It hopes the deal will help it tap into growth in the UK’s pension risk transfer market.

Ithaca Energy, a UK-based oil and gas operator, revised its bond terms to placate investors this week — marking a rare victory for the buy-side in a market that has offered ever weaker protection. Buyers for the bonds had been prepared to swallow Ithaca's original proposals, but demanded a double digit yield to do so, forcing the borrower to back down to hit its target price. Karoliina Liimatainen reports.

Nationwide Building Society has restructured the swaps underlying its covered bond programme to ensure a proportionate share of the cover pool's mortgage interest will be swapped to Sonia, winning approval from Moody's this week.

Lloyds Bank was able to increase the size of its second dollar covered bond issued on Wednesday — its second deal in this market in the last year. In doing so, it still managed to pay a minimal new issue concession.

Investors have been discounting UK bank bonds in the secondary market in recent weeks, as it becomes increasingly unclear how a change of prime minister will affect the country’s approach to leaving the EU.

Places for People, the UK housing association and property management company, has raised €150m from a privately placed note led by Goldman Sachs.