UK

En+ Group, the Russian power and metals company controlled by Oleg Deripaska, began trading in London and Moscow on Friday after the book for its $1.5bn IPO came together at “the last minute,” according to a banker on the deal.

Two firms abandoned their London Stock Exchange IPOs on Friday after investors saw the valuations they were seeking as too aggressive. But Befesa, the Spanish metals recycling company, made a successful debut in Frankfurt, closing 14.2% higher.

Red hot market conditions this autumn may tempt financial institutions into making early inroads into their funding and capital plans for 2018, bankers said this week.

Housing & Care 21, a provider of housing and care services for elderly people in the UK, made a successful corporate bond debut on Wednesday when it sold a £250m 30 year deal that grew its sector’s presence in the sterling market.

Nomura has appointed Hugh Karseras, a former Deutsche banker to their new global chief operating officer role.

The first UK interest rate rise for 10 years, announced on Thursday, may stimulate sterling corporate bond issuers, because the Bank of England’s accompanying statement was even more dovish than expected.

Two Apollo Credit funds and a division of Cerberus Capital Management sold £61m of shares in UK bookmaker Ladbrokes Coral via an accelerated bookbuild run by Morgan Stanley on Wednesday night.

The Bank of England raised its base rate for the first time in more than 10 years on Thursday — but analysts described the move as a “dovish” and “pessimistic” hike. Gilt yields fell following the move, providing a potential boon for a UK Debt Management Office (DMO) syndication next week.

Macquarie has led a £1.3bn ($1.7bn) secured financing in the direct lending market for the acquisition of a 50% stake in a UK offshore wind farm, the Walney Extension, taking £500m of the issue itself.

Investment boutique Green Ash became the newest player in the corporate high yield market this week, with its short dated speculative grade bond strategy set to include a large allocation to UK credit.

The dim sum market’s recent issuance run is set to continue after Hitachi Capital (UK) priced a three year deal on November 2 – less than two months after the issuer sold a Formosa bond.

NGA UK, the provider of human resources software, launched a €300m loan on Wednesday, which it will be hoping appeals to CLO managers that have been eager for new money deals.