UK

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.

In a troubled new issue market strewn with casualties, the $1.8bn-plus IPO of ConvaTec, the UK medical supplies maker, got covered at its base size on Tuesday, while Misys, the London-based banking software producer, opened the books for its £650m-£750m IPO with a lower free float than initially planned.

Officials from Madrid this week sent the clearest message yet from a European Union country that the race to grab portions of London’s financial empire has begun.

The sterling corporate bond market maintained some, albeit low, momentum as UK coach operator National Express announced the mandate for a seven year issue in the currency on Thursday.

UK airport Heathrow has agreed £350m ($429.6m) in term loans with tenors of between seven to 12 years. The deal marks the end of an active year of financing for the transit hub.

BNP Paribas has promoted one of its rising stars, underlining a new determination at the bank to translate its supremacy in the corporate banking sector into success across all of its investment banking products, writes David Rothnie.

Shares in Biffa, the UK waste disposal company, have traded flat to fractionally down this week, after it got its IPO done by cutting the price by a fifth from the bottom end of the range.