UK

With no new issues pricing on Thursday, and no sign of Superstrada Pedemontana Veneta’s €1.55bn dual tranche deal, it could be left to The Housing Finance Corp (THFC) to save the investment grade corporate bond market from a three day run without any issuance.

The three new issues and one tap that priced in the investment grade corporate bond market this week were all two to three times oversubscribed, but a thinning supply pipeline and the excuse of a Fed meeting meant no deals were launched on Wednesday or Thursday. However, three issuers are looking to issue before the summer break, following meetings with investors.

The corporate bond deals priced so far this week show a robust market. A US Federal Reserve meeting and a thinning pipeline may have resulted in a maiden over of a Wednesday, but hopes are high of primary business picking up before the end of the week.

After a lull last week when many companies were in closed periods ahead of results, the equity block trades market is more vibrant this week, with several significant trades so far, including a successful capital increase for Metro Bank.

Metro Bank, the UK challenger bank, completed a 9.9% capital increase on Tuesday evening, after announcing its fourth consecutive quarterly profit.

Shares in Arena Events Group, the UK supplier of temporary structures to festivals and sporting events such as Wimbledon and Glastonbury, closed 4.5% above their IPO price on Tuesday after the company made its debut on London’s Alternative Investment Market (AIM).

Hannam & Partners, the investment banking boutique founded by Ian Hannam, has hired two experienced equity analysts to cover the mining and oil and gas industries.

Strix Group, the Isle of Man-based designer and maker of kettle safety controls, plans to raise £190m through an IPO on London’s Alternative Investment Market (AIM).

Avenue Group, Bain Capital and Barings this week brought the first block sale of shares in Biffa, the UK waste disposal company, since its troubled IPO in October 2016.

TP ICAP has chosen Bloomberg Entity Exchange as its outreach platform in preparation for the Markets in Financial Instruments Directive II (MiFID II), the interdealer broker announced on Monday.

Eversholt Rail, the UK railway carriage leasing company, returned to the bond market after a six year gap today, to borrow £400m of 25 year amortising debt.

Tissue Regenix Group, the UK regenerative medical technology company owned by IP Group, has issued £40m of shares to finance its acquisition of CellRight Technologies in the US.