UK

Intu Properties, the UK shopping centres group formerly known as Capital Shopping Centres, issued its first convertible bond since 2012 on Tuesday morning, and successfully raised £375m but the bond has traded down in the aftermarket.

ConvaTec, the UK medical technology company, has priced a jumbo £1.7bn ($2.1bn) initial public offering at the bottom of its initial range.

The UK Debt Management Office swatted away weeks of Gilt volatility to tighten pricing, hit the upper end of size expectations and attract overseas demand with a £4bn tap of its 2.5% 2065s on Tuesday.

B2 rated Infinitas priced on Tuesday its €380m term loan ‘B’ refinancing at the lower end of the guidance having first signed the deal just eight months ago.

Bank of China (London) has mandated banks for what is being described as the first green covered bond from a Chinese bank in a transaction that will be backed by climate debt.

British American Tobacco has said it will use new credit lines to fund the $20bn cash component of its offer to acquire the remaining stake in Reynolds American it does not already own. While BAT said it is committed to an investment grade rating, all three big rating agencies now have it on review.

BMI Healthcare, the operating arm of General Healthcare Group, added a loan package to the run of sterling issuance in the European leveraged finance market of late.

A city in the north-east of Scotland that has been generating headlines of late for its links to the troubled oil market — as well to Donald Trump — is set to hit the road for a sterling bond issue.

Enterprise Inn, the UK pub group, on Monday began marketing a new sterling refinancing offering amid growing instability in the market after Daisy, the UK telecom services supplier, pulled its deal last Friday.

Schroder European Real Estate Investment Trust, the Reit managed by the property arm of UK asset manager Schroders, has priced its second capital increase on the London and Johannesburg exchanges.

Concerns that a ‘hard Brexit’ will lay waste to the pound and ratchet up UK inflation are furnishing a wave of innovation in structured products, as market participants look for more sophisticated ways to play a breakdown in previously dominant correlations between different asset classes, writes Dan Alderson.

UK government bonds this week joined the country’s currency in taking a hammering, but public sector bankers are confident that a scheduled Gilt syndication next week will go well — and there could also be arbitrage opportunities in sterling.