UK

Saga, the UK insurance company, priced its £250m bond almost almost 40bp inside initial price thoughts on Tuesday, in the European high yield market's first new issue since the French election, despite fears that a Macron win could be read as negative for the Brexiting UK.

After a five year absence, Royal Bank of Scotland returned to the covered bond market on Tuesday selling larger than expected and well oversubscribed sterling and euro benchmarks that were priced tight to fair value.

Standard Chartered is giving a shot in the arm to its credit business, with new hires in Singapore, Hong Kong, London and New York, according to a Tuesday press release.

Equity block trading began smartly on Monday evening after Emmanuel Macron generated relief across markets by winning the French presidency on Sunday. Goldman Sachs brought two trades for its own private equity arm.

Alfa Financial Software Holdings, the UK financial software company, has announced its intention to float on the London Stock Exchange.

The Bank of England has published data on the minimum requirement for own funds and eligible liabilities (MREL), and analysts said that UK firms will have little difficulty complying with the rules by 2022.

Barclays has mandated itself for a roadshow and plans to issue its first sterling covered bond in more than two years.

Cobham, the UK aerospace and marine technology company, has finished its second rights issue in 12 months, after the leads completed a small rump placement.

The UK Debt Management Office has picked the lead managers for the first syndication of its 2017-18 financial year, which it has scheduled for the week beginning May 15.

HSBC said on Thursday that it expected to issue close to $60bn of new bonds for the minimum requirement for own funds and eligible liabilities (MREL) over the next few years, having scaled down its previous estimates.

UK specialist insurance and travel provider Saga is set to price its first bond next week, a benchmark deal that is part of a refinancing of its financial structure.

Amigo Loans, the UK consumer lender, launched a £50m tap of its debut high yield bond on Wednesday, and bankers said there is more to come from the sterling market after what has already been a busy start to the year.