UK
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An ex-SSA DCM banker has joined the UK's Financial Conduct Authority to focus on wholesale banking supervision. -
KKR launched an accelerated bookbuild on Wednesday to sell its remaining stake in Pets at Home, the UK retailer. The trade priced at 174p, a 5.9% discount.
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Former Citi credit trader James Duffy will be joining HSBC in London to trade financials single name credit default swaps.
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Jason Manske, the chief hedging officer and head of global derivatives and liquid markets at insurance giant MetLife, has joined the International Swaps and Derivatives Association's board of directors.
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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.
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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.
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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.
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UK issuers propose to include their covered bond programmes within their ring-fenced entities, which is positive for their credit quality, said Moody’s.
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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.
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Two European government bond traders who resigned earlier this year from Barclays are heading to hedge funds.
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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.
