UK
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HSBC promoted its latest high profile UK hire, Philip Noblet, to co-head of UK banking, moving Natalie Blyth, the previous co-head, over to commercial banking. -
Three of the UK’s biggest banks raised $5bn in senior and sub notes across the curve in the dollar market on Monday, while ING Bank still managed to beat them all in terms of size.
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Credit Suisse has poached a banker from Nomura for its FIG syndicate team, according to market sources.
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Côte Restaurants, the UK chain of French-styled restaurants being bought out by BC Partners, has avoided general syndication and allocated a £138m leveraged loan with early bird lenders.
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Markit has launched an FX trade confirmation service that it hopes will mitigate operation risk and allow counterparties to manage trade lifecycle events more efficiently.
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Nomura has cut at least 20 people from its credit trading business, according to two sources outside the bank, with the high yield business hit particularly hard.
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UK self-storage company Safestore has amended around £255m of loans, reducing margins by 75bp as part of the firm's push for balance sheet flexibility.
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The London Stock Exchange Group (LSEG) has made RMB products available across its platforms and is pushing for the currency to become just one more option available to its clients. But product innovation will only proceed as quickly as Chinese regulators' desire to open up, according to LSEG's director of international development.
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UK law makes it tough for authorities to prosecute banks over Libor manipulation, so individuals look set to bear the brunt of the criminal investigations, with the first successful prosecution handing former UBS and Citi trader Tom Hayes 14 years in prison.
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Royal Bank of Scotland’s painful restructuring was rewarded by the capital markets this week as investors swarmed all over an equity block and threw $26bn at the state owned lender’s debut additional tier one bond.
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Barclays this week joined UBS and Royal Bank of Scotland in using strong second quarter results as a launchpad for additional tier one (AT1) issuance, printing its first standalone sterling trade.
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