UK

Nationwide stood out on another busy day in the covered bond market, shaking off three euro-market rivals to print a €1bn mortgage backed bond on Thursday in line with Lloyds and BNS.

Credit traders and strategists report growing interest among investors to trade iTraxx Crossover “tranchelets” — slices of the index’s 0%-10% equity tranche — amid a heightened focus on jump-to-default risk for European high yield names.

Thames Water (Kemble) Finance Plc, the subordinated holding company vehicle of the Thames Water group, issued a £175m bullet bond on Tuesday, joining the dense flow of deals in a high yield market relieved of the eurozone’s recent tensions.

The UK government has said it wants further changes to the country's regulation, with the Prudential Regulatory Authority coming within the Bank of England, and more oversight over the Bank from the Treasury.

Mediclinic, the South African healthcare group, will launch on August 11 a R10bn ($810m) rights issue to fund its takeover of Cinven’s remaining stake in London-listed Spire Healthcare.

The UK Debt Management Office reopened a 2068 bond on Tuesday with a syndication that was nearly four times subscribed.

International Airlines Group replaced Bank of America Merrill Lynch and Deutsche Bank as the initial lenders in its €1.4bn acquisition facility because the pricing they wanted for the loan was too expensive, according to a banker on the deal.

The UK’s conduct regulator may have lost its boss, but it’s still going from strength to strength, despite having less reason than ever before to exist at all.

Citi has hired a high yield and distressed salesperson from Barclays to its Europe, Middle East and Africa loan sales business in London.

888 Holdings, the London-listed online gaming firm, will buy rival bwin.party using a $600m term loan and $50m revolving credit facility.

Crédit Agricole’s head of DCM for Asia is returning to London, GlobalCapital understands.

A high yield credit trader has left Citi in London and is heading to Barclays.