UK

Lloyds is set to exchange two old tier two instruments for new longer dated debt as it shifts towards holding company issuance in the wake of regulators' new emphasis on loss absorbing capital.

The UK Debt Management Office must raise an additional £4.5bn to meet Chancellor of the Exchequer George Osborne’s revised spending as outlined in Wednesday’s Autumn Statement.

An aura of misery has hung over fixed income businesses for years. UBS slashed its business in 2012; now Deutsche, Barclays, Credit Suisse and Standard Chartered are also taking “tough decisions” about the size of their bonds businesses. So it was a pleasant surprise to see Alain Gallois, head of fixed income at Natixis, in good spirits.

The UK Debt Management Office must raise an additional £4.5bn to meet Chancellor of the Exchequer George Osborne’s revised spending as outlined in Wednesday’s Autumn Statement.

The initiatives taken to bring Chinese and UK markets closer together mark a new height in the bilateral relationship, with more RMB products and a possible Stock Connect link at the heart of future plans, said Nikhil Rathi, the new CEO of the London Stock Exchange (LSE).

The growth of corporate issuance in the green bond market is a compelling trend in modern capital markets. While this growth will continue, market entrants must pay heed to the market’s unique demands, say Antonio Keglevich, head of green bond origination, and Robert Vielhaber, green bond analyst at UniCredit

BMW has kept its bond issuance going apace in the past fortnight, since it returned to the market for the first time after the Volkswagen emissions cheating scandal.

Groupe Fnac, the French book, music and electronics retailer, has signed €865m of loans for its €615m acquisition of Darty, the London and Paris-listed French electricals retailer.

Lloyds is set to exchange two old tier two instruments for new longer dated debt as it shifts towards holding company issuance in the wake of regulators' new emphasis on loss absorbing capital.

Royal Bank of Scotland has hired a well known high yield specialist to head corporate and event driven credit trading.

The United Kingdom has mandated banks to manage a reopening of its 0.125% index linked Gilt maturing March 2046.

The sterling market has fizzed for investment grade corporates this week, as both British American Tobacco (BAT) and Mondelez nabbed long dated tenor in the currency.