UK

The UK Debt Management Office built its largest ever order book for a syndicated bond on Tuesday, when it printed a deal with the longest duration in its conventional Gilt portfolio.

Gala Coral, the UK gambling company, on Tuesday announced it would repay part of its £275m bond due 2019, one of two notes that will not be absorbed into its merger with Ladbrokes.

ING has laid out the shape of its high yield joint venture between lending and DCM, which will be headed by new arrival Dominique LeMaire.

The People’s Bank of China (“PBoC”) has opened books to its debut one year offshore central bank note in the Asia morning at 3.30% area on October 20.

The recent announcement of the sale of £2bn of Lloyds Bank shares to individual investors on special terms has put UK privatisation and widening share ownership back on the agenda.

Legal & General PLC launched 30 year non-call 10 notes in the UK on Monday, giving investors their first taste of a sterling denominated tier two insurance deal since June.

BNP Paribas has hired a replacement global head of equity derivatives strategy, following the departure of its previous head earlier this year.

With China’s President Xi Jinping due to arrive on Monday for his first state visit to the UK, the People’s Bank of China (“PBoC”) decided to launched its debut CNH central bank note in London on the same day, mandating HSBC and ICBC as joint global co-ordinators.

The London Stock Exchange Group is bidding to challenge the dominance of the IntercontinentalExchange (ICE) and Deutsche Borse in the European interest rate derivatives market by launching platform backed by the Chicago Board Options Exchange and several major banks.

Barclays became the sixth bank to seek the consent of investors to switch a number of hard bullet covered bonds to soft bullet maturities. A successful outcome is likely, which will remove onerous collateral obligations under the pre maturity test.

Singapore-listed Frasers Centrepoint (FCL) has signed a £300m ($468.5m) five year acquisition loan via Frasers Hospitality UK Holdings.

European credit index curve trading came into focus this week with some traders and strategists looking to take advantage of what they describe as an anomaly in iTraxx Europe flatness between the five year point and longer tenors.