UK

On Monday night, KKR, the US private equity group, sold a 12.2% stake in Pets at Home, the UK pet supplies retailer it floated in 2014, through an accelerated bookbuild led solely by Bank of America Merrill Lynch.

Lloyds added to a barrage of sterling-denominated bond deals from banks in 2017, on Monday selling its first senior unsecured bond in the currency in nearly seven years.

Investment bank and research firm Exotix made two senior hires this week.

Issuers and syndicates in the corporate bond market are lining deals up for a four day week this week. The Columbus Day holiday in the US shouldn’t necessarily mean no deals in the European market, but a mixed tone to the secondary market means participants are erring on the side of caution.

The Bank of England has drawn up new rules for banks which seek to limit the UK’s exposure to the "deglobalisation" of bank balance sheets. Rules including the US requirement for "intermediate holding companies" and EU proposals for "intermediate parent undertakings" limit banks’ ability to move capital and liquidity around the banking group — leaving regulators without these safeguards concerned.

Barclays has turned to an experienced hand to lead its corporate finance business in Europe and the Middle East, in a move that signals the end of a management overhaul notable for its reliance on bringing in external heavy hitters.

J2 Acquisition Ltd, the latest cash shell vehicle of Martin Franklin, completed its London IPO on Thursday, raising $1.25bn for acquisitions in unspecified countries and sectors.

TMF Group, the Dutch business services firm, has chosen the London Stock Exchange as the venue for its €340m-plus IPO.

Sterling corporate bond investors had three tranches of property company debt to evaluate on Wednesday, as Segro issued a £750m 12 year and 20 year deal and Notting Hill Housing Trust a £400m 31 year.

On Wednesday sterling corporate bond investors had to evaluate the three latest tranches from property companies as Segro sold a £750m 12 year and 20 year offering and Notting Hill Housing Trust brought a £400m 31 year deal.

Sterling corporate bond investors had three tranches of property company debt to evaluate on Wednesday, as Segro issued a £750m 12 year and 20 year deal and Notting Hill Housing Trust a £400m 31 year.

Investors got another chance to build up more exposure to the UK’s flourishing challenger banking sector on Tuesday night when JC Flowers, the US private equity firm, launched another block trade of shares in OneSavings Bank.