UK

Tritax Big Box Reit, a UK logistics real estate investment trust, closed a £200m follow-on capital raising on Friday morning, having increased the deal from a £100m-£150m range.

The UK Supreme Court extended investors’ legal battle with Lloyds this week, saying it will review an earlier ruling by the Court of Appeal that gave the UK bank the right to redeem a series of high coupon enhanced capital notes (ECNs) at par.

European credit markets, led by the banking sector, have seen risk escalate over the past several weeks with the Markit iTraxx Europe Main index seeing its spread widen to the highs of June 2013. One bright spot however, has been the region’s sovereign credit, which has largely steered clear of the contagion that developed in the corporate market.

RBC’s BlueBay Asset Management on Thursday appointed a new portfolio manager and a new senior credit analyst to its European high yield team in London.

Vinod Vasan, who resigned from Deutsche Bank on Wednesday morning, will be returning to UBS.

Rich Ricci, the former chief executive of Barclays investment bank, has joined freemarketFX, a startup FX business, as chairman.

Deutsche Bank's global head of FIG origination has left the bank to head to another firm.

Countryside Properties has received enough demand from investors to complete its IPO. The UK house and flat developer is counting on strong interest from UK long-only funds to weather difficult market conditions.

Ascential priced its initial public offering on Tuesday, for a deal size of £279.9m. After a rocky first day on the London Stock Exchange, the information and events business finished the day with its shares trading at the exact level at which they had been priced.

The UK Supreme Court will review an earlier ruling by the Court of Appeal that gave Lloyds Bank the right to redeem a series of high coupon Enhanced Capital Notes at par.

Tumultuous trading on Monday took credit spreads to some of their widest since 2013, in what was variously described as ‘great entry levels’ for new trades or a ratcheting up of pain for those already nursing bruises from last week’s debacle.

Derivatives market prices reflect growing uncertainty over the UK's forthcoming referendum on European Union membership, analysts said this week, even though the vote will not be held before June at the earliest and the Brexit campaign is widely expected to fail.