UK
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Jefferies has boosted its high yield trading business in London with the hire of a senior trader from Societe Generale. -
Credit Suisse has moved fast to appoint a director in high yield sales at its London office after the retirement from the business of long-serving Emma Balaam.
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UK chancellor of the exchequer George Osborne picked Monday evening to sell a much-hyped 5.4% block of shares in Royal Bank of Scotland.
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Bluefield European Solar Fund, perhaps the last prospective issuer on Europe’s IPO market in this otherwise barren summer season, postponed its flotation on Friday, July 31, blaming “unfavourable market conditions”.
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Holidaying investors and less than ideal market conditions proved no obstacle for three European banks which took orders just shy of $40bn to sell $6.35bn of additional tier one (AT1) debt in four sessions.
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The European Covered Bond Council (ECBC) will present its new dual-recourse bond structure to an audience of regulators, central bank heads and other stakeholders in October – a meeting which will be a barometer of official sector appetite for backing the product.
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Abbey National launched a minimum €250m reopening of a 2019 floating rate note on Thursday, looking to bring the size of an original €500m deal above €1bn after a series of taps last year.
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Investors swarmed all over Royal Bank of Scotland’s first offering of additional tier one (AT1) paper on Wednesday, which had some bankers recalling the early days of the product.
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RBS chose a dual tranche debut in additional tier one (AT1) on Wednesday, and some bankers think the bank’s improving debt story has helped it pay a smaller pick-up than others for a 10 year call.
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The UK government’s £2bn sale of a first chunk of the 79% stake it holds in Royal Bank of Scotland has dominated equity capital market headlines so far this week.
