UK

Matalan’s credit spreads surged wider this week and put pressure on other European retailers after the company dropped an earnings bombshell.

Garfunkelux, the German debt collection company, on Thursday issued £795m of notes in the first sizeable European high yield issue for three weeks. Market participants are now eager to see if other issuers finally follow in its steps.

The fourth quarter yielded its first great equity capital markets success this week, as Worldpay, the UK payments processer, completed the largest listing in London since Glencore’s in 2011. Olivier Holmey reports.

Dominique LeMaire is set to join ING as head of the bank’s new platform to relaunch its leveraged loan and sub-investment grade corporate bond business.

Bank of Scotland's £900m equivalent triple currency denominated deal marked a successful return to the UK RMBS market for the issuer after a four year absence. The deal sends a positive message to the market that there is demand for UK RMBS assets, at the right price.

USG People, a Dutch recruitment and human resources company, has secured €450m of funding in a refinancing loan, reducing its margin by 40bp.

Capita, the business process services company, has entered into a £450m bridging facility with two banks.

Investec is looking for two syndicated loans totalling $530m, one for its South African business and the other for its London arm, according to bankers on the deal.

Garfunkelux, the German debt collection company, on Thursday issued £795m of notes, in the first sizable European high yield issue for three weeks. Market participants are now eager to see how the deal will trade in the secondary market.

Plans to ring-fence major UK banks’ retail activities away from their investment banking activities could increase funding costs for the banks that fall under the Prudential Regulatory Authority’s proposed regime.

The UK Debt Management Office has named banks for its latest 50 year syndicated bond.

Equiniti Group announced on Wednesday the price range of its initial public offering on London’s main market, which would give it a market capitalisation of £495m to £600m.