UK

An SSA/EM origination banker at Barclays resigned from the bank on Tuesday.

NatWest Markets has hired an experienced covered bond trader from Nomura. The move is the latest example of staff swapping between the two firms, but also underscores the UK’s bank ambitions plans.

Despite coming from a tough sector, and having some risks of its own, the UK clothing retailer Next got an order book nine times oversubscribed on Wednesday, on a £250m six year corporate bond issue.

Kingspan, an Irish insulation company, has made a €700m offer for two units of Belgium’s Recticel, but will sell one of them if the deal goes ahead.

MUFG has relocated 21 staff to Paris, including all its European DCM origination bankers, all its sales people who cover European investors and an MTN banker.

Co-operative Bank managed to raise £200m of tier two capital this week, in its first bond sale since coming close to failing in 2017. A healthy coupon of 9.5% helped the UK lender to find the demand it needed, even if one investor said that there was still “not much to like” about its credit profile.

The Financial Conduct Authority has set out plans to amend the UK’s regulated covered bond framework once European Union legislation comes into force.

FTSE Russell is reviewing China for a potential upgrade under its framework for index eligibility, opening the door for onshore bonds’ inclusion in the FTSE World Government Bond Index (WGBI).

Neil Garrod, group treasury director at Vodafone and one of the best known figures in the European corporate bond market, is understood to be leaving the UK mobile phone group. He is in talks with another company about becoming its finance chief.

Andy Green, chairman of IG Group, the online derivatives trading provider, is to stand down later this year.

Estimated losses in the transition to a low carbon economy could top $20tr, according to a speech delivered on Monday by the Bank of England’s Sarah Breeden. The warning was delivered as the UK’s Prudential Regulation Authority published a new supervisory statement on plans to enhance banks’ and insurers’ management of risks from climate change.

Yellow Cake, a London-listed company operating in the uranium sector, completed a £25.9m share sale on Friday to continue funding uranium purchases from Kazakh uranium producer Kazatomprom.