UK

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.

Time Out Group, the UK lifestyle and culture magazine publisher, has priced its £90m IPO on the London Aim.

The former head of corporate debt capital markets at Rabobank has been promoted to head of capital markets — leaving positions open, which could include head of syndicated loans.

One of the cases pro-EU UK politicians make, at least to City officials, against Brexit is that the whole of post-crisis regulation would have to be rewritten from scratch, leaving banks facing years more uncertainty.

Tumbling volatility over the past months has caused US and European corporate credit risk prices to converge, despite credit investors bracing themselves for diverging monetary policies.

A growing number of foreign exchange brokers are increasing their margin requirements on currency trades to protect themselves from Brexit volatility, with several outlining planned hikes around this month’s UK referendum.