UK

United Biscuits’ £725m ($948.23m) loan is being split into two term loans and a revolving credit facility with pricing linked to the company’s leverage, according to a banker on the deal.

Clarion Events is set to launch the loan funding for its acquisition by private equity firm Blackstone next week or soon after. The buyer also has funding for a deal to buy Paysafe in the pipeline.

Yorkshire Building Society (YBS) opened books on new tier two in the sterling market on Wednesday, as it considered whether difficulties in the process of changing to a new way of modelling for risk could leave it short of its minimum requirement for own funds and eligible liabilities (MREL).

Crédit Agricole CIB, the investment banking arm of the larger French bank, has hired a market veteran from Société Générale as global head of debt capital markets solutions and advisory.

Niche players see MiFID II's research rules as an opportunity to win market share.

The UK Debt Management Office (DMO) tapped a 2065 line for £4bn on Tuesday, upping the size of the transaction because of “impressive quality of demand”.

Monday’s combination of heightened worries over North Korea and the Labor Day holiday in the US saw only one new issue in the European corporate bond market. However, with no new developments from the Korean peninsula overnight, five issuers decided to push ahead with trades on Tuesday.

On Tuesday, pharmaceutical firm GlaxoSmithKline returned to the corporate bond market for the first time since November 2014, and its rarity value contributed to combined order books of over €5.5bn for the triple tranche deal.

Europe’s IPO market gained two more deals of very different flavours on Tuesday when Rovio, the Finnish developer of the Angry Birds mobile phone game, and Charter Court Financial Services, the UK specialist mortgage lender, both filed intention to float documents.

Yorkshire Building Society picked banks to arrange the sale of a new benchmark tier two on Tuesday, as it looked to follow a popular new senior issue from Credit Suisse in the sterling market.

China and the UK will continue to promote the development of green finance through bilateral collaborations, despite the decision by US president Donald Trump to withdraw from the Paris Agreement, said Chen Yulu, deputy governor of the People’s Bank of China.

United Biscuits, the maker of McVitie’s biscuits and Jacob's Crackers, signed a £725m syndicated loan on Thursday with 21 banks.