UK

Deutsche Bank has hired a credit index trader in London, reprising a business that it looked to have exited this year.

It is with great pleasure that GlobalCapital announces the nominees for its Global Derivatives Awards 2015. The winners will be unveiled at a gala dinner in London on September 24.

Acromas Bid last night responded to reverse enquiry for Saga shares by selling what was its third block in the UK insurance provider for £141m and what could be one of the last blocks before the August break.

Ashtead, the UK-based equipment rental company, has increased a credit facility to $2.6bn to fund an expansion of its fleet.

International schools operator Cognita on Tuesday began roadshowing its £280m bond, becoming the second borrower from the private education industry in the speculative grade market this year.

One area of European credit not reflecting the global market's bearish tone on Monday was iTraxx options trading, where traders reported plenty of demand among participants to sell volatility even as spreads continued to widen.

British retailer House of Fraser on Monday announced a £175m floating rate issue, part of an all debt refinancing strategy that includes loans and new revolving credit facilities.

The European high yield market this week saw towering deals like SoftBank’s $4.5bn and Synlab’s €1.1bn, but investors also found a place in their portfolios for smaller notes.

Bluefield Partners, the UK investment adviser focused on solar power infrastructure, is pressing on with its bid to float a fund, Bluefield European Solar Fund, despite the failure of a similar deal today.

Greater stability in European credit spreads has brought a big reversal of iTraxx index options, say traders, after the volatility skew reached an all time record inversion during the recent Greece debt negotiations.

J Sainsbury, the UK supermarket chain, raised £500m of hybrid capital on Thursday with twin issues of a convertible bond and a regular hybrid bond.

Bayside Capital, a credit investment firm and affiliate of private equity house HIG Capital, has lost a managing director and a founding member of its European credit platform.