UK

Yorkshire Building Society is looking to buy back a series of tier twos before their first call date, after Coventry Building Society showed last month that the UK regulator was more relaxed than expected around what firms can do with their capital. But rather than replacing the bonds with an instrument of equal standing, Yorkshire is going one step further than its peer and proposing to issue its first non-preferred senior notes.

Moelis & Co, the US investment bank, has hired a senior equity capital markets adviser from Lazard in London.

Greatwell Homes, the UK housing association headquartered in Northamptonshire, has raised £40m private placements (PP).

Bookrunners on Dubai-based payments company Network International will close books on the IPO a day early, and have increased the size of the offering, after receiving huge demand for stock.

An equity-linked banker at HSBC in London has moved to a new role within the bank.

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Freight Investor Services, the London freight and commodity brokerage, has unveiled a new commodity derivatives trading system, in partnership with KB Tech, a UK fintech company. It will enable trading and clearing of freight-related contracts on exchanges including SGX, Nasdaq, EEX and CME.

A cluster of large pan-African companies are exploring listings on the London Stock Exchange, but many have delayed their plans because of political risk in both Africa and the UK.

Four new corporate bonds hit the market on Wednesday. In a change from recent days, all the deals were of moderate size and single tranched. Terna, the Italian grid operator, and Banque PSA France were typical in launching €500m no-grow deals. Book sizes diverged strongly, with those two issuers getting heavy oversubscription, while Aroundtown and Voestalpine had much less.

Foreign & Colonial (F&C) Investment Trust has sold a £150m equivalent US private placement, in euros and sterling, to a range of institutional investors from the UK and United States.

Barclays’ head of global finance solutions has quit in a move to the buyside.

G4S, the UK security and outsourcing firm, is set to enter the US private placement market in the coming weeks, GlobalCapital understands. The deal will test market appetite for UK support services companies, after the sector has been hit by repeated blows.