UK

As the world's largest consumer of commodities, China is trying hard to make the RMB a bigger player in those markets. But while the long term strategy makes plenty of sense, its short term implementation faces a number of headwinds, despite the Hong Kong Exchange Group’s (HKEx) best intentions.

Hiscox secured strong demand for its £250m 30 year non-call 10 tier two notes on Tuesday as sterling investors showed no signs of fatigue despite a recent spate of subordinated issuance from British insurers.

Teva, the New York-listed Israeli pharmaceutical company, has completed and signed $33.75bn of loans for its acquisition of Allergan Generics.

The Ranger holds banks to ransom for their votes for the Loans Awards.

Nationwide Building Society has appointed the former head of HSBC UK as its new chief executive.

London Stock Exchange Group (LSEG) and India’s Yes Bank have signed a memorandum of understanding to work together on bond and equity issuance, with a special focus on green infrastructure finance.

ICAP’s agreement to sell its voice broking business to Tullett Prebon, signed on Wednesday, will free the former's profitable electronic trading, post-trade and indexing businesses from the regulatory capital pain that comes from being part of a broker. Meanwhile, Tullett Prebon will become the largest player in hybrid voice broking, taking over ICAP’s voice and information business.

International Airlines Group, the company that owns British Airways and Iberia, issued a highly successful €1bn convertible bond on Thursday, to refinance its acquisition of Aer Lingus, the Irish flag carrier.

RBS’s plan for its investment bank assumes no revenue attrition in the division, despite further ambitious cost-cutting plans that will take out £2bn of costs in the next three years.

Bank of Georgia completed the IPO of its healthcare subsidiary on Monday, as it successfully priced the deal, although at a price much below what it had hoped for.

McCarthy & Stone, the UK’s leading builder of retirement homes for sale, completed its IPO on Friday November 6, in a £336m deal that gave it an initial market capitalisation of £967m.

Vodafone has attracted a €2.5bn order book for a €750m five year bond, its first since negotiations over an asset swap with Liberty Global fell through.