UK

Market participants say a decision to move out of the UK could have a negative impact on HSBC’s bonds, with the bank poised to determine the future location of its headquarters within days.

Few bankers were happy with their bonuses at the start of 2016, despite a surge in the value of their payments.

CMC Markets, the financial spread betting firm, priced its £218m initial public offering last Friday, before falling 2.5% in early trading. It has fallen further since.

Ascential, the information and events business formerly known as Top Right Group and Emap, has narrowed the price range for its IPO, homing in on the middle of the original range, and is covered within that range.

Santander UK has taken advantage of deep demand for short dated floating rate debt to print a €750m deal in the private market.

Numis Securities is pulling out of market-making in UK retail bonds, in a gloomy sign for the market after a period of low issuance on the London Stock Exchange's Orderbook for Retail Bonds, writes Ross Lancaster.

Equity capital market participants this week hailed the successful IPO of Clydesdale and Yorkshire Bank Group, and its strong first two days of trading. If other listings also deliver in the aftermarket, bankers think it could spark a surge of new deals, regardless of volatility, writes Olivier Holmey.

Anoa Capital, a Luxembourg-based boutique investment bank, is building out an origination team following the hire of Mike Turnbull as head of origination.

The UK higher education sector maintained its love affair with capital markets this week, as the University of Leeds announced a roadshow for its debut bond.

Caught between two regulatory initiatives, many small banks are unsure about whether to embark on the long and costly journey of developing their own regulatory capital models.

Swedbank and SEB this week launched deals that attracted the largest order books and the widest distribution of any covered bonds issued this year, along with the smallest concessions.

Barclays will offload a legacy derivatives portfolio to JP Morgan as part of the British bank's plans to run down its non-core assets.