UK

New Capital had appointed John Leahy specialist UK equity fund manager to strengthen its European and equity franchise.

Warrington Borough Council has become the first UK local authority outside London to enter the bond market for more than 10 years — and more British councils could be set to come with deals.

Europe’s corporate bond market is catching its breath before an expected power dash of deals, but the loan market continues to bring deals and leveraged borrowers are gearing up for a big push on acquisitions.

British satellite data communications company Avanti on Tuesday tapped its $370m debut bond sold in 2013 for an additional $125m.

Investec has appointed Roger Lee, an equities banker, to its largecap European sales team.

Numen Capital, a London based credit manager, has hired an experienced trader to its team as a portfolio manager and research analyst.

Credit Suisse has bulked up its covered bond team with a new hire who will join FIG syndicate.

Berenberg has hired a new senior UK economist, after Rob Wood jumped ship to Bank of America Merrill Lynch earlier this year.

In this round-up, China's cross border RMB trade settlement falls in July, Seoul plans to launch RMB/Won futures in October, Moscow Exchange sees growing CNY/Rouble spot and swaps turnover, China's central bank issued its yearly financial stability report, and the UK's foreign secretary said during a visit to China that London would keep supporting RMB internationalisation initiatives.

On July 15, 2015, Afren announced that the expected level of near term production would likely be materially lower than what had been announced alongside the proposed restructuring on March 13.

The situation was no longer tenable. Afren’s management determined that it needed more money, and a debt restructuring, to stay afloat. In January, Afren said it had begun talking to creditors about its capital structure.

July 31 is Afren’s day of disaster. In 2014, on that day, the London-listed oil explorer revealed a corruption scandal that reached the highest echelons of its management. Its chief executive and chief operating officer were suspended, the share price faltered, and trust in the business was shaken.