UK

Toyota Motor Credit, the financing arm of Toyota, revved into the sterling bond market for the first time in five years on Tuesday as it printed a £500m ($649m) deal that attracted international demand.

The US Commodity Futures Trading Commission (CFTC) has penalised Russia’s VTB Bank and its London-based VTB Capital investment banking subsidiary over what the Commission called "fictitious" and "non-competitive" block trades of Russian ruble/US dollar futures contracts.

Clydesdale was well supported for its first foray into the sterling subordinated debt market on Monday, allowing the lender to resell £925m of capital and underscoring the health of the sterling market.

John Menzies, the Scottish aviation and distribution company, was set to launch syndication of around $417m of loans this week, a banker close to the deal told GlobalCapital on Tuesday.

ICE Clear Europe, the European clearing arm of Intercontinental Exchange, has been authorised by the Bank of England and by the European Securities and Markets Authority as a central counterparty (CCP).

A senior UK-focused equity capital markets banker at JP Morgan has left the bank to join Numis Securities as a managing director.

Electra Partners has completed the £181m IPO of Hollywood Bowl, the UK’s largest ten-pin bowling lane operator, after the deal was postponed in July due to the Brexit vote.

Rating: A3/A-/A

Credit risk has awakened from its summer slumber over the last couple of days with the CDX IG and iTraxx main index now trading 8% and 11% higher than their close on Thursday. While it’s still too early to see whether this latest surge is a passing event or a longer lasting trend, both indices are still below their 12 month averages and now trade roughly 40% off the highs set earlier in the year.

Shares in Informa, the UK publishing and events company, closed 6% higher on Thursday after it launched a fully underwritten £715m rights issue to partially finance its £1.18bn takeover of Penton, the New York-based information services and business-to-business publisher, in a transatlantic deal which the company says will expand its reach in the global exhibitions industry.

UK supermarket chain WM Morrison Supermarkets, better known as Morrison’s, has triggered an extension option on its £1.35bn revolving credit facility.

Biffa, the UK waste management company, has announced its intention to float on the London Stock Exchange.