UK

Only two issuers raised sterling debt this week, with car finance company GM Financial and UK property company Shaftesbury Chinatown printing £640m between them.

Brexit talks about Britain’s place in the European Investment Bank (EIB) failed to move forward this week, and called into question the status of many UK loan applications that remain on hold.

CME Group on Wednesday shut its London-based derivatives exchange, CME Europe, and clearing house, CME Clearing Europe. All positions that were still open on August 30 have now been closed and settled.

The UK Debt Management Office plans to sell a new index-linked Gilt in the 30 year area of the curve in November, it said on Thursday, as it prepares for its next syndication next week.

Barclays has returned to the tier two market in euros for the first time in nearly two years, eyeing a clear issuance window this week following the summer break.

ING has reshuffled its line-up of syndicated finance bankers, creating a new European regional head role while relocating its global head from London.

Intercontinental Exchange’s (ICE) benchmark subsidiary is planning to administer the London Bullion Market Association (LBMA) Silver Price benchmark from September 25, the exchange operator announced on Tuesday.

Banks scrambled this week to trigger credit default swaps on the back of Noble Group’s loan restructuring in June, after the Asian International Swaps and Derivatives Association determinations committee decided to dismiss the issue, a lawyer has told GlobalCapital.

Two Société Générale bankers have been indicted for allegedly manipulating Libor and causing $170m worth of damage to global financial markets, the American Department of Justice (DOJ) announced on Thursday.

The UK Debt Management Office has selected the banks that will run its next syndication.

Two holidays and September’s European Central Bank meeting will mean the next two weeks will offer short windows for issuance, but the success of the two deals that priced this week will inspire corporate bond issuers looking at the market.

The success of the UK’s ring fencing rules, which one analyst described as “the worst idea the [Financial Conduct Authority] has ever put forward” will rely on the UK’s courts, which will have to agree how to transfer customers and assets for eight UK banks. The court process will start in November and kick into high gear ahead of the final deadline of January 2019.