UK

Onshore investors forced red chip issuer Country Garden Holdings to pull a Rmb1.8bn ($281.2m) three year bond on Tuesday. It would have been the real estate company’s first deal in the Panda market since September 2016.

Rating: Baa2/BBB/A

UK petrol station operator EG Group launched a jumbo leveraged loan facility on Thursday, totalling €3.5bn-equivalent, to finance its acquisition of Esso sites in Italy and Germany. Bank meetings are due to be wrapped up by the end of this week.

Banks tried to prevent a repeat of 2016 year-end collateral market chaos but trading choked on huge spreads again. And this time, it was for a reason unexpected: Trump.

UK issuers propose to include their covered bond programmes within their ring-fenced entities, which is positive for their credit quality, said Moody’s.

Cineworld, one of the biggest cinema operators in the UK, has set the terms for a £1.7bn rights issue to finance its reverse takeover of Regal Entertainment, a US peer.

Two European government bond traders who resigned earlier this year from Barclays are heading to hedge funds.

Barclays rolled out sweeping cuts to its investment bank on Wednesday, with around 100 jobs gone across the business, including several managing directors in the EMEA primary bonds business.

Barclays’s former New York head of FX trading, Robert Bogucki, was charged this week with allegedly “front-running” a £6bn options trade to be executed by technology company Hewlett-Packard in 2011.

Dwr Cymru Welsh Water reopened the investment grade sterling corporate bond market on Wednesday with a £300m bond that came bang in the middle of the maturity range marketed during the issuer's roadshow.

Europe’s equity capital markets saw the launch of the first big rights issue of the year on Wednesday when Cineworld Group, one of the biggest cinema chains in the UK, confirmed it would raise £1.7bn to partly finance its takeover of Regal Entertainment, the US cinema operator.

Property developer Country Garden Holdings is planning a return to the Panda bond market on Friday, after approaching onshore investors with a Rmb1.8bn ($279.8m) three year bond. It will be the first time the company has sold a Panda in the interbank bond market.