UK

Housing Development Finance Corp is set to put its name in the history books after launching the very first Masala bond from an Indian issuer on Monday evening. The offshore rupee trade has been a long time coming but if successful, it could unleash a torrent of new issuance from Indian firms.

BGL, the owner of UK insurance-to-energy price comparison website Comparethemarket.com, has invited banks to pitch for the lead roles in its IPO.

Two UK leveraged loans that borrowers launched shortly before the UK referendum have ended in contrasting results, with one closed successfully and the other pulled.

ING has appointed Greg Arkus as its new UK head of financial institutions.

UBS has hired Chris Gibson-Smith, former chairman of the London Stock Exchange, as vice chairman of corporate client solutions EMEA, the firm's investment banking businesses.

Four banks will underwrite the $1.25bn loan for UK investment firm Melrose's acquisition of Nortek of the US. It is the largest acquisition announced by a UK company since the country voted to leave the EU on June 23.

Mathias Noack, who oversees syndicated loans at UniCredit, will become head of syndicated loans at BTMU in London. UniCredit is looking for Noack’s replacement.

Electronic broker Icap launched the first offshore renminbi (CNH) FX benchmark based on market trading, the first said on July 7. The new fix, which is priced at the open of European markets, aims to fill the gap between Asian trading sessions.

UK real estate companies are facing a rough ride in loan markets after the country’s decision to leave the EU on June 23. But the rest of Britain’s borrowers have escaped paying a Brexit premium thus far, write Elly Whittaker and Robert Cooke.

Hollywood Bowl, the UK’s largest 10 pin bowling alley operator, has postponed its plan for a London IPO in July as a result of market uncertainty surrounding Brexit.

Credit and equity fund managers taking off hedges may have contributed to the resilience of these markets in the wake of the UK's EU referendum, according to derivatives traders, but a cocktail of calamities this week hinted at a precarious exposure to any further sudden moves.

The Bank of England won’t impose a capital buffer meant to counteract the creation of credit bubbles, citing an increasingly fragile British economic outlook after the nation voted to leave the European Union.