UK

Forterra and Mediawan have closed and completed their IPO bookbuilds this afternoon, though Forterra’s will be priced at the bottom end of the range.

Moody’s said in a report released on Wednesday that the UK leaving the European Union would be credit-negative “for most UK-based companies”.

The UK moved quickly, and a long way, on bank capital, but apparently it hasn’t done enough. In a year when the Basel Committee is supposed to be finally finishing its own capital rules, do we really need more uncertainty?

Burford Capital, the litigation finance firm, has raised £100m with its retail bond issue, the third this year on the London Stock Exchange’s Orderbook for Retail Bonds, and the largest since August.

A vote by the United Kingdom to leave the European Union would entail a host of negative consequences for the derivatives market, according to Allen & Overy lawyers. The concerns include a deterioration of counterparty creditworthiness, changes in mark-to-market exposure and a decline in the value of UK linked collateral.

After a short stint at ANZ, a former Royal Bank of Scotland managing director joined Banca Imi last week

A Barclays FIG DCM banker is moving into a senior treasury job at the bank.

The Bank of England governor, Mark Carney, is not being allowed to stay out of the debate over the UK’s membership of the European Union, which is set to ramp up again this week.

The UK Debt Management Office (DMO) has mandated four banks for its re-opening of the 2.5% 2065 Gilt, which it has scheduled for the week beginning April 25, 2016.

The process for IPOs in the UK could be improved as a result of reforms mooted by the Financial Conduct Authority, market participants say. But they also warn that the market works well now and some of the FCA’s ideas could hinder rather than help, especially if they are not implemented carefully, writes Jon Hay.

Over the past 15 years UK banks have set aside over £53bn to pay for their misconduct, according to a report published on Monday, with the end nowhere in sight.

The primary covered bond market was active this week with as many as seven issuers raising more than €6bn, including the longest deal in over a year and a debut borrower in euros.