UK

Market participants expect to see the end of “vanilla” deals in the European bank bond market, as tier two debt becomes the latest asset class to embrace call periods over call dates.

Shares in Canadian semiconductor company Alphawave plummeted more than 20% on Thursday morning as the stock began trading on the London Stock Exchange after its £856m IPO.

Citi has added to its EMEA technology investment banking team with the hire of a managing director from Deutsche Bank.

BCS Global Markets, the investment services division of Russia’s largest independent broker, has hired a new treasurer.

Danske Bank set a careful foot into the Reg S dollar additional tier one market this week, in the wake of a difficult trading session for global equities.

Virgin Money UK was six times subscribed for a tightly priced tier two in the sterling market on Wednesday, despite having offered a very similar deal to investors last September.

Safestore, the UK listed self-storage company, has issued £150m-equivalent of US private placement debt.

French telecoms firm Iliad is looking for at least €300m from the Schuldschein market, and is trialing an innovative tenor extension in one of its tranches.

IAG, the parent of British Airways and Iberia, has become the latest airline company to tap the convertible bond market for financing during the pandemic, as it continues to burn vast amounts of cash amid a slow recovery in global travel.

The financial institutions bond market in euros was on hold on Tuesday, as European issuers saw no reason to rush into doing deals while global equities were selling off and interest rates were being buffeted by expectations of inflation.

Dennis Watson, a managing director and Barclays' head of real estate, has left the bank after some 35 years with the firm.

The UK Treasury sold 580m ordinary shares in NatWest on Monday night at £1.90, a 3.6% discount to the closing price. The sale of the roughly 5% stake for £1.1bn lowered the government's holding in NatWest to 54.8%.