UK

Nestlé, the Swiss foods group, again nominated Citigroup as loan coordinator as it completed the refinancing of a revolving credit facility last week.

Early-rising bankers have been basking in daylight since clocks were turned back an hour over the weekend.

GlobalCapital will open the poll on Monday October 26 to decide the winners of its Syndicated Loan, Leveraged Finance and Private Placement Awards 2016.

The visit of president Xi Jinping to the UK this week has stirred much debate about the degree of kowtowing by British politicians and royals to the Chinese leader. But politics aside, the glut of new measures and transactions that accompanied the visit means the London RMB hub advanced in leaps and bounds.

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Tracey McDermott, acting head of the UK's Financial Conduct Authority, told a City audience at the Mansion House speech that “the intensity and volume of regulatory activity over recent year is not sustainable”, signalling a less combative approach to the financial industry.

The internationalisation of the Schuldschein market, Germany's answer to private placements, has been widely hailed, with foreign issuers and investors increasingly prominent. But even the banks that arrange the deals now include some surprising non-German names, writes Elly Whittaker.

Capital markets issuance from higher education institutions has surged since government funding dried up, challenging lending from the European Investment Bank, while more selective participation from private investors means that universities may struggle to keep investing.

Covered bonds worth almost €7bn were issued this week but, by virtue of its size, oversubscription ratio and breadth of demand, Nationwide Building Society’s €1bn deal stood out.

European Central Bank president Mario Draghi said on Thursday he was prepared to cut interest rates and ramp up quantitative easing, creating a credit market rally that sent iTraxx Europe and Crossover indices back inside their levels before the end of September spike in volatility.

Teva, the New York-listed Israeli pharmaceutical company, held a meeting with banks on Wednesday for the syndication of $33.75bn of loans to buy generic drug business Allergan Generics.

Hammerson, the UK property company, plumped for the sterling bond market on Tuesday and was rewarded with a well oversubscribed £350m deal, after a roadshow during which it considered issuing in euros.