UK

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.

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.