UK

Clydesdale and Yorkshire Bank Group’s decision on Tuesday to delay its London IPO by 24 hours surprised and frustrated those working on the deal. The cause of the timetable change was a last minute request for information from Moody’s.

As the euro investment grade corporate bond market approached nearly three weeks without a new issue, EasyJet broke the silence on Tuesday with its long-awaited debut bond.

LCH.Clearnet, the clearing business majority owned by the London Stock Exchange Group, has been granted clearing house status by the Monetary Authority of Singapore.

Clydesdale and Yorkshire Bank Group decided on Tuesday morning to delay its London IPO by a day, to make an unexpected, last minute addition to its prospectus. As a person close to the bank put it: “Someone somewhere is going to be sitting on the naughty step.”

Countryside Properties, the UK house and flat developer, could float between 30% and 50% of its stock in London, in an IPO that would give it a valuation of £1.125bn at mid-range.

Cardiff University broke the two week silence in Europe's investment grade corporate bond market with a £300m deal on Monday that achieved the lowest coupon ever for a public benchmark bond by a UK university.

Ascential, the information and events business formerly known as Top Right Group and Emap, has got its London IPO covered.

Royal Bank of Canada has made two senior hires in its London credit business as it looks to expand in financials and high yield trading.

Gilt investors have suggested that syndications form part of the UK Debt Management’s main issuance programme, rather than being used as a supplement — but bankers are cautious about such a move, despite the extra fees it would bring in.

Clydesdale and Yorkshire Bank Group was due to close the book for its IPO at 2pm on Monday, having put out a final message to inform investors that orders below 180p a share risked missing out. At that level, the deal size would be £397.5m.

Abbey National's €1bn five year issued Monday was comfortably oversubscribed but exhibited some price sensitivity.

Clydesdale and Yorkshire Bank Group, the UK mid-sized bank being spun off by National Australia Bank, has tightened the price range of its London initial public offering to the low end.