UK

Santander and BBVA both looked to the dollar market to secure senior funding on Tuesday amid a bare session for European FIG issuance.

UK gambling company Gala Coral has said it intends to redeem its high yield bonds by the time its merger with peer firm Ladbrokes is completed, which is expected to happen in the first half of next year.

Agricultural Bank of China (ABC) priced a landmark transaction this week, raising approximately $1bn from a dual-currency, triple-tranche bond. Not only was this China’s first financial green bond, but ABC was also the second bank from the country to sell notes in London in as many days, setting the stage for president Xi Jingping’s visit to the UK next week. Rev Hui reports.

Worldpay, the UK payment processing company, floated for £2.16bn on Tuesday, in the largest initial public offering in London since Glencore’s in 2011, and the fifth largest in Europe since the financial crisis.

Reports that Barclays is preparing to appoint former senior JP Morgan investment banker James "Jes" Staley to the post of CEO should be welcomed by the bank's creditors.

BNP Paribas has hired a senior member of staff for its emerging markets business.

China Construction Bank sealed a successful offshore renminbi bond on October 12, marking the first time it has listed dim sum notes in London. The trade is set to breathe new life into the CNH market, which had been shut for more than two months following a devaluation of the currency.

China is boosting its capital markets collaboration with the UK with Agricultural Bank of China launching a dual-currency, triple-tranche bond on October 13. It would be the second Chinese lender to sell notes in London in as many days, and its offering will also mark the country’s first financial green bond.

Private equity firm Permira is merging German debt collector Garfunkelux, which it acquired in July, with British peer Lowell Group — a deal that could play the ‘market opener’ role bankers and investors have awaited since September.

Barclays has announced that it has promoted its former head of FIG EMEA to the post of chief strategy officer at the investment bank.

The UK Debt Management Office is lining up a new 40 year syndicated bond for later this month.

Bank of Scotland is planning to make its return, after four years of absence, to the public UK RMBS market with a deal denominated in three currencies. Its parent company, Lloyds, has issued four covered bonds this year in sterling and euros.