UK

Informa, the UK events and publishing company, has completed its £715m rights issue, which it launched in September to partly finance its £1.2bn takeover of Penton, a US competitor.

Shares in ConvaTec, the UK medical supplies manufacturer, traded below issue price throughout Wednesday and closed flat, a day after the firm completed the largest IPO on the London Stock Exchange since Worldpay floated for £2.4bn in October 2015.

The Moser family intends to become the sole owner of UK mortgage loan provider Together as private equity firm Equistone and Standard Life plan PIK issuance before exiting the company.

This week has seen the completion of the largest UK IPO since Worldpay, despite a cautious mood gripping investors following a string of failed IPOs in Europe. A significant M&A driven rights offer and a bold convertible bond from a prominent shopping centre group have also reached successful conclusions.

The UK should not rely too heavily on EU law ‘equivalence’ preserving its dominance as a financial centre, bankers and lawyers have warned, after Bank of England governor Mark Carney suggested that use of the concept in Brexit negotiations could provide a template for a global regulatory system.

UK hospitality firm Whitbread has extended its revolving credit facility by one year after its subsidiary Premier Inn helped generate a 2% increase in profit in the first half of the year.

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.