UK

Banks and insurers have been peppering the market with a variety of trades this week, as borrowers start to make use of benign issuance conditions before an expected shutdown in the run-up to the UK’s ‘Brexit’ referendum.

Today was a weakish day for stocks, with the Euro Stoxx 50 down 0.5%, but that has not stopped Bain Capital executing its first block trade of shares in Bravida, the Swedish heating, plumbing and electrical contracting company that floated in October. The trade is covered.

The vogue for gym IPOs looks set to continue, with Basic-Fit of the Netherlands announcing an intention to float on Tuesday.

The UK Debt Management Office could launch a new five year conventional Gilt in the second quarter of its 2016-17 financial year and is seeking comment from investors and banks on the proposal.

In the latest signs of ill health among banks, which have experienced a rough ride in capital markets this year, UBS analysts on Tuesday named BBVA, Svenska Handelsbanken and Standard Chartered as their least preferred names in a sector that is now cheaper than every other, apart from autos, after a damaging earnings season.

Solihull-headquartered infrastructure product manufacturer Hill & Smith has refinanced its £210m revolving credit facility, extending the maturity by two years.

After recently issuing its debut RMBS, TSB Bank, the UK bank that was spun off from Lloyds, has filed vehicles suggesting it will turn to covered bonds.

Motorpoint, the UK car supermarket group, enjoyed two days of strong share price gains after completing its £100m ($146.17m) London IPO on Friday, and has since settled at that level.

English rugby club Harlequins on Monday gave investors two more weeks to buy into its new minibond issue, an unlisted, non-tradable note.

Betting house William Hill this week was alone in the European high yield market for a potential issue of £300m of unsecured notes, with the UK’s European Union membership referendum an unhelpful backdrop.

The UK Debt Management Office has picked the banks that will run its next syndication, scheduled for the week beginning May 23.

Mizuho has appointed a new associate director of EMEA loan sales in its London office.