UK

Coty, one of the world’s largest beauty companies and owner of brands including Calvin Klein and Marc Jacobs, is arranging a $1bn term loan 'B'.

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Agricultural Bank of China (ABC) is planning a roadshow in September for the world’s first offshore renminbi green bond that will be part of a multi-tranche deal. The trade scheduled to price ahead of president Xi’s visit to London in October and is one of a number of upcoming Chinese bonds aimed at the UK.

Goldman Sachs has promoted Jonathan Penkin to the new roles of head of growth markets ECM and chairman of Asia ex-Japan ECM, according to an internal memo seen by GlobalCapital Asia.

An eagerness among buyside credit traders to sell credit volatility at the start of the week gave way to hedge buying by Wednesday, as iTraxx index spreads hit their recent wides.

Stagecoach Group, the UK bus and train operator, filled the book for a £400m bond issue more than twice over on Monday, breathing life into a previously empty sterling market.

Interoute Communications, Europe’s largest operator of cloud services, began offering €590m of bonds on Monday to fund its recent takeover of peer Easynet from the UK’s MDNX Group.

Park Resorts, the UK’s largest holiday park operator, will syndicate a £550m term loan B after bank meetings in London on Wednesday this week.

British member club operator Soho House on Friday began roadshowing its £200m bond, offering the market its first Caa1 credit since July.

Worldpay, the UK payment processing group, expressed its intention to float last Friday, bolstering hopes among equity capital market specialists that it would bring one of the largest IPOs in London this year, despite recent reports of takeover bids.

London will continue to be the largest western RMB hub thank to the city’s sophisticated financial services and the close relationships between the UK and China, argued Alderman Alan Yarrow, the Lord of Mayor of the City on London on September 18 in Hong Kong.

In this round-up, Argentina gets clearing bank, Lord Mayor of London pays a visit, CLSA gives its verdict on One Belt, One Road and HKMA chief calms fears over the renminbi.