UK

The sterling corporate bond market has been less busy year to date than it was in 2017. However, the property sector has continued to be one of the largest contributors of supply and, on Thursday, Grainger added its name to the list of issuers from the industry.

Weir Group, the UK energy and mining equipment maker, is to acquire US-based industrial component manufacturer Esco Corp, and has raised £363m in gross proceeds, through an accelerated sale of new shares to finance the cash component of the $1.05bn acquisition.

Bernie Mensah has been crowned president of EMEA at Bank of America Merrill Lynch, adding to his responsibilities as co-head of global FICC trading.

Primary Health Properties, the healthcare REIT that invests in properties across the UK and Ireland, completed a capital raising on Wednesday and grew the size of the offering by £15m.

Intercontinental Exchange on Wednesday announced that it would be launching its three month futures on regulators’ chosen successor for Libor, the sterling overnight index average, on June 1.

JP Morgan has appointed Marta Arteaga to its EMEA equity capital markets execution team as a vice-president.

Pimco has appointed a new head of its European high yield portfolio, as it looks for opportunities to invest in speculative grade credit, the firm said in a statement on Monday.

M&G Investments has announced the public launch of a private debt fund that aims to achieve a positive social or environmental impact, while giving investors a return higher than that of public bonds. Meanwhile, a survey suggests funds of this kind make good returns.

Some EM fund managers and fixed income analysts are already in discussions over whether investors stuck holding Rusal bonds may be able, with the issuer’s help, to create a workaround that would allow the company to stay current on its debt obligations.

UK construction company Galliford Try has raised £164m through a rights issue to cover the costs related to the collapse of construction and facilities management firm Carillion in January, after the successful conclusion of its fully underwritten rights issue on Monday.

Not a day goes by without some analyst, regulator or senior exchange executive weighing in on where the clearing of euro swaps should reside post-Brexit.

Shares in Whitbread, the UK hospitality group, rose by 7% on Monday after Elliott Advisors, the US activist hedge fund, revealed it had become the largest investor in the company.