UK

One of Europe’s largest self-storage companies Shurgard has priced a new €300m US private placement, according to market sources.

London’s investment trusts have been tapping a deep pool of equity capital earmarked for green-linked deals. On Friday, SDCL Energy Efficiency Income Trust (SEEIT), the UK-listed energy efficiency investor, closed a £160m raise, £60m more than its original target and on the same day Greencoat UK Wind, the investment trust focused on UK wind farms, launched a £197.6m follow-on.

The UK sold its last syndication of the financial year on Tuesday, selling a £2.25bn 2051 index linked bond — its first syndication in the format since November 2019.

Global financial institutions will focus more on their home markets amid a sharp fall in funding requirements this year, leaving sterling credit investors yearning for more supply from overseas FIG issuers.

Deutsche Bank scored blowout trades in euros and in sterling this week, as investors showed strong support for the name following a positive set of results for 2020.

Pension Insurance Corp (PIC) has given Livin Housing a further £30m of private placement funding, after lending the housing association in England’s County Durham £65m in April 2019. Market participants have told GlobalCapital that several other housing associations are readying private placement deals for the next few months.

Deutsche Bank opened books for the first sterling FIG deal in about a month on Thursday, following on from a strong euro transaction earlier this week.

UK biotech firms are continuing to reap the benefits from US listings. On Tuesday Autolus Therapeutics, an early stage biopharma firm backed by Syncona Investments, became the latest UK Biotech firm to raise capital on the US Nasdaq in a $100m transaction. The deal shows the continued advantages for early stage European biotech firms in having a US listing.

Aedifica, the Belgian healthcare property investment company, has closed its debut US private placement, according to market sources.

IVC Evidensia, Europe’s largest veterinary care provider, backed by Swedish private equity firm EQT, has announced the results of a private equity capital raising on Tuesday. The company was reported to be considering a London listing this year, but this new raise might delay that listing.

Investec Bank plc, the London and Johannesburg-listed subsidiary of South African banking group Investec, came to the euro bond market on Wednesday to raise debt.

Apollo Global Management has exited Watches of Switzerland, the UK luxury watch retailer, having sold the last of its shares via an accelerated bookbuild.