Lloyds Bank
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James Garvey, who runs the capital markets businesses at Lloyds, will take over the trading side as well, as the bank's existing head of financial markets, Richard Moore, plans to leave the firm next year. -
CMB Financial Leasing Co launched its debut international dollar bond on Monday with three and five year tranches, as ICBC London rolled out a three year floating rate note.
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Banks will have more time to build up sufficient equity and debt for their minimum requirement for own funds and eligible liabilities (MREL), said the Bank of England.
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Though none of them are ruling out a victory for Donald Trump, FIG market participants are positioned for Hillary Clinton to win the 2016 US presidential election. Banks could be ready to launch new trades on the same day as the result is announced.
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This was the week high yield borrowers in sterling came out of the Brexit shadows to face a market ridden with political tensions — what they found was hungry, but sober, investors.
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Standard Chartered rocked assumptions about old style capital instruments this week when it said it would not call its legacy capital deal. Issuers with similarly structured bonds may not want to ignore the economic benefits of the UK bank’s decision and the likely consequences for future additional tier one issuance. Tyler Davies reports.
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UK pub operator Enterprise Inns on Monday printed its new sterling notes at maximum size, winning the minimum coupon that it had promised to investors.
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Mortgage lender Together on Friday accelerated the pricing of its PIK bond in a sterling market still cautious after last week’s cancellation but geared with a new offering from betting house Ladbrokes.
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The UK Debt Management Office laid down a strong marker for its host country with a super smooth syndication on Tuesday that attracted a strong showing from international investors and a record book.
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Pub group Enterprise Inns on Monday and mortgage lender Together on Wednesday launched their new sterling offerings amid growing instability in the market after Daisy, the UK telecom services supplier, pulled its deal last Friday.
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The Moser family intends to become the sole owner of UK mortgage loan provider Together as private equity firm Equistone and Standard Life plan PIK issuance before exiting the company.
