UK

A revised range has been set for the IPO of Trainline, the UK transport booking website, and the deal has enough interest form investors to be priced throughout the new level.

Central bank independence has long been one of the sacred cows of western financial policy, but the rise of populist politicians is increasing the possibility that it might be on the way to the abattoir.

Primary Health Properties, the UK real estate investment trust focused on healthcare facilities, plans to raise £150m by selling a new convertible bond due in 2025.

ABN Amro has appointed an ex-Barclays banker as its new head of UK FIG DCM.

LONDON PRIVATE DEBT ROUNDTABLE The UK’s private debt market is one of the most vibrant in Europe. London is the most active centre in Europe for US private placement investing, and UK borrowers have longstanding links with that market.

The US private placement market has carved itself quite a following among borrowers in the UK and Europe, with its enticing offer of long dated debt at tight margins. But since Britain voted to leave the European Union, agents are playing on another of the market’s strengths — its resilience to external shocks. Silas Brown investigates.

The City of London Corporation, via its endowment fund the City’s Cash, is set to enter the US private placement market for the first time. While UK councils are still a rare sight in the US PP market, agents believe they may be a fruitful asset class for the future. Silas Brown reports.

Toronto Dominion Bank has become only the second borrower from outside of the UK to sell a Sonia-linked covered bond, having quickly met enough orders on Monday to launch a £1bn offering in the sterling market.

Shares in Huatai Securities, the Chinese brokerage, rose as much as 12% on Monday morning after the company’s global depositary receipts began trading in London via the London-Shanghai Stock Connect programme.

Huatai Securities, the Chinese brokerage, has set a price for the sale of global depositary receipts on the London Stock Exchange, the first deal under the new London-Shanghai Connect programme.

Emmerson eyes $230m project financing - NCC refis amid deal drought - Deufol cuts margins with loan refi - Ires Reit activates acquisition accordion - Ukraine's Kronospan receives EBRD-led loan, but MHP funding remains uncertain

UK banks jumped back into the bond market this week, enjoying good demand for their funding and capital products. But with the country’s financial institutions having loaded up heavily on debt already, and with political instability causing near constant volatility within the sector, some market participants wonder whether investors have had all the UK FIG bonds they can stand. Tyler Davies and Bill Thornhill report.