UK

As overall credit market liquidity has eroded, total return swaps (TRS) are providing an alternative for market participants to access or hedge their corporate bond exposure, according to financial information services provider Markit.

Bank of Tokyo-Mitsubishi UFJ has hired two sector-focused managing directors for corporate banking in EMEA.

Barclays delayed announcement of its expected restructuring plan, as it is still in discussion with the regulator, but said that new chief executive Jes Staley would join the bank early, as it announced third quarter results on Thursday.

Western Power Distribution, the UK electricity distribution network operator, kept the sterling corporate bond market’s run of form going on Wednesday with a £500m eight year issue.

Equiniti Group, the UK share registrar and pension administration group, made a disappointing debut on the London Stock Exchange on Tuesday (October 27). Its shares fell 8.5%, after being priced at the bottom of their IPO range.

BNP Paribas has hired an experienced financials credit trader to its London operations.

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.