UK

China announced plans to expand its currency marketplace overseas this month with branches set to be open in London and New York. Market participants say this is all part of the renminbi internationalisation effort and is the first step to further liberalising the CNY foreign exchange market.

Cobham, the UK aerospace and marine technology company, has successfully completed its £500m rights issue, which ended with a £22m rump placement this morning.

Equity capital markets bankers can feel satisfied that good planning led to an orderly and successful completion for half a dozen IPOs at the beginning of June, before fears of a possible Brexit really bit into market confidence. But they are now starting to assess the likely effects of the referendum on June 23.

Credit markets showed their capacity to surprise this week, as a varied array of issuers, including high yield and emerging market companies, raised funds, even though a referendum that could lead to the first country leaving the European Union is only a week away, writes Jon Hay.

Lloyds Bank won a long fought battle with investors on Thursday, after the UK Supreme Court ruled a series of the bank’s high coupon enhanced capital notes would not count as stress test capital and could be recalled at par.

Predictions from both sides in Britain’s EU referendum suggest economic disaster if the country votes the ‘wrong’ way. But history shows the dangers of doom-mongering.

Lloyds Bank won a long-fought battle with investors on Thursday, after the UK Supreme Court ruled a series of the bank’s high coupon enhanced capital notes would not count as stress test capital and could therefore be recalled at par.

Hollywood Bowl Group, the UK’s largest ten pin bowling club operator, owned by Electra, has announced plans for an IPO on the London Stock Exchange in July.

Sysco Corp, the US food service group, completed the financing for its acquisition of UK peer Brakes Group on Tuesday with a €500m bond that was successfully sold in the teeth of market volatility.

Time Out Group, the UK magazine publisher owned by Oakley Capital, had a disappointing first day of trading on London’s Aim on Tuesday, closing down 7% from its IPO price of 150p a share.

A new poll on the UK referendum on EU membership published on Monday intensified fears of a Brexit, sending FIG spreads across the capital structure wider on Tuesday.

Law firm Allen & Overy and financial services firm Deloitte are working together on a solution to help big banks comply with regulations that are due to come into force from September and require margin to be posted on over-the-counter derivatives trades.