UK

Barclays has hired a managing director from Standard Chartered in London to cover fintech clients in EMEA.

Hibernia, the real estate investment trust in the Republic of Ireland, has raised €125m of US private placement debt to develop new offices.

Large European banks shifted their funding focus to the dollar market this week, printing stunning deals as the euro market showed it was more sensitive to signs of tighter monetary policy. Tyler Davies reports.

Wemag, a state-owned electricity firm in Germany, has launched a 10 year Schuldschein through NordLB’s digital platform, Finpair. Wemag follows two Austrian utilities in supplying deals at a longer tenor.

French care homes company Orpea launched a Schuldschein deal on Thursday as the market begins to regain its international allure. A return to the heady heights of pre-Covid deal flow will be a struggle, but Schuldschein market players are optimistic that the next few months will be strong for issuance.

Deutsche Bank is bringing in Daniel Ross from Barclays to oversee its investment banking activities in the UK and Ireland, taking over from Scott Bell, who is moving into a chairman post.

Crédit Agricole asked holders of its sterling additional tier one (AT1) to exchange their bonds for new notes on Thursday, which will recognise the regulatory order after Brexit and will reset the debt to pay to a rate based on Sonia rather than Libor.

French technology manufacturer Mersen has sold US private placements, according to market sources. Investors are expecting more European corporates to tap the market in the coming months.

Severn Trent, the UK water company, is raising £250m of equity capital to fund green projects. Banks working on the deal quickly attracted enough demand to cover the transaction.

Cordiant Digital Infrastructure Ltd, the UK investment trust focused on digital infrastructure assets, has unveiled plans for a £250m capital raising, three months on from its successful flotation on the London Stock Exchange.

In conference calls with the UK Debt Management Office on Monday, Gilt-edged market makers and investors gave their preferred maturities and timings for the UK’s debut green bond.

TD Securities has hired a senior debt capital markets syndicate banker from SMBC Nikko Capital Markets in London, to handle new issues from corporate and financial issuers.