UK

Commodities brokerage Marex Group has opened the books on its £100m plus IPO on the London Stock Exchange.

The UK will issue its first green Gilt via syndication in September, with consultations to be held during the summer to determine the market’s preferred maturity for the bond.

Close Brothers Group has launched a process to buy back its only tier two bond, as it looks to replace the deal eight months before its first call date.

Tottenham Hotspur FC has raised a further £250m of US private placements, to pay off Bank of England loans signed during the coronavirus pandemic.

It was a big week for environmental, social and governance in the capital markets — aren't they all? But in the most recent developments, it is possible to detect a rise in the spiciness of the debate over what should and should not be acceptable.

Banks bombarded the dollar market this week, with a deluge of supply from rare Yankee issuers and US heavyweights across the capital structure.

Three unprecedented events this week — a landmark court ruling against Shell and shareholder revolts at Chevron and ExxonMobil — signalled that investors and society at large have rejected the oil industry’s early attempts at joining the low carbon transition and are looking for much more radical action. Oil majors retain good access to capital markets, but the clock is ticking. Jon Hay reports.

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European banks made the most of an improving tone in the euro market this week, piling on top of one another to access funding in a small but supportive window.

Portuguese insurance company Fidelidade is looking to sell a tier two bond this week, three years after first exploring the idea of issuing a subordinated debt instrument.

Southway Housing, a housing association which owns and manages 6,000 properties in and around Manchester, is marketing private placements in a debut deal, according to market sources.

A wave of mergers and acquisitions is on the way, driven by the rise in awareness of climate change, bankers believe. But there will be no easy options for companies trying to reshape their businesses for the low carbon transition, and the process will create winners and losers.