UK

The euro covered bond market is ‘wide open’ for any UK bank following a successful transaction this week from Yorkshire Building Society (YBS) and before that, Lloyds Bank. This supply could also provide a vital stepping stone to the first UK senior deal in euros this year, said bankers.

Royal Bank of Scotland Group was marketing a long-dated senior bond in the dollar market on Thursday, copying Barclay’s choice of currency with its first deal after results.

UK security and outsourcing company G4S has sold roughly $350m of US private placements with seven and 10 year maturities, as the market shows it still has an appetite for UK support services.

Finablr has set a range on its London IPO, valuing the business at a more conservative multiple than many had expected when the roadshow began. That will please prospective buyers, some of whom were also impressed with an appearance from the company’s billionaire owner, BR Shetty.

Stephanie Sfakianos, BNPP’s head of sustainable capital markets, is retiring from BNP Paribas after 15 years with the bank.

Sirius Minerals, the London-listed miner, has won investor support in the equity financing leg of its new $2.8bn phase two project financing to fund the development of what is intended to be the largest polyhalite mine in the world in the North York Moors near Whitby.

The Manchester Airport Group, which owns Manchester, East Midlands and London Stansted airports, launched a £350m bond on Wednesday. In an investment grade corporate bond market that had otherwise been empty of new issues in the first half of the week, the deal was covered more than 3.5 times.

Asset manager Pemberton has closed a private debt fund called Strategic Credit Opportunities Strategy (SCOS) at €1bn, with a target of 13% gross returns for its limited partners, in euros.

Jefferies is nearing the completion of its EM sales and trading team started 2.5 years ago, with two more hires in London.

Barclays has wasted little time in accessing the debt markets after publishing first quarter results, selling senior bonds out of its holding company in both dollars and sterling this week.

The Bank of England will publish the minutes of its policy meeting on Thursday, with investors and bank analysts aligned in thinking that a Brexit extension will see a small but noticeable move towards more hawkish language from the bank.

Loungers, the bar chain that priced an £83m IPO last Wednesday, is still trading above issue price, banking gains for its IPO investors.