Lloyds Banking Group has hired John Langley from Wells Fargo to take over as chief executive of corporate and institutional banking next year to replace John Winter, who is moving to a new role at the UK bank as vice-chair for CIB.

Warren Buffett's investment vehicle has continued to cut its holding in Bank of America ahead of the legendary investor's exit at the head of the firm in January. Buffett has almost halved his holding in the US bank in the last 15 months.

With Silicon Valley set to plough more than US$5trn into the race to build AI and well over two-thirds of that money set to come from the markets, banks are on the cusp of what could be the largest fee event in the history of investment banking.

Investors are piling into bets against the British pound, traders say, amid widespread pessimism over the outcome of the UK government’s budget later this month.

Amid a salvo of euro FIG issuance that hit the market on Monday, Nordea Mortgage Bank outperformed pricing expectations to price the tightest euro five-year covered bond in two years.

A spate of benchmark-sized single-tranche transactions kicked off the week in the euro corporate market, with deals still largely pricing flat to fair value or even inside.

Eroski returned to the high-yield market on Monday to seek refinancing, with the Spanish supermarket chain expected to print at a much lower coupon level than it secured with its last issuance, thanks to that bond's positive performance. 

The European Union has chosen to bring a single five-year tranche to close out its year in the syndicated market.

The European ABS market is showing signs of fatigue as investors take longer to digest the latest dealflow heading into year-end, though overall appetite for paper remains decent.

More RMBS supply hit the market over the past week across a range of collateral types but there are signs investors are starting to struggle to digest the sustained onslaught.

Blackstone's QTS was preparing to sell a US$3.46bn commercial mortgage bond backed by revenues from its data centres, which would be the largest deal of its kind in the CMBS market.

US hamburger chain Wendy's is showing investors a US$400m seven-year whole business securitisation to repay two maturing debt issues.

Three multilateral development banks have launched a Caribbean multi-guarantor debt-for-resilience joint initiative to help the region prepare for disasters and ease debt pressures. 

A new US$1bn credit enhancement facility is set to boost the sovereign debt-for-nature swap market, where dealflow has fallen away after a record-breaking 2024 . Established by Enosis Capital – an “impact credit firm” led by Ramzi Issa , who pioneered modern DFN transactions while at Credit Suisse – the facility has begun life with a US$100m commitment from ZomaLab, the family office of Walmart supermarket heir Ben Walton.

The government of Jamaica will receive a full payout of US$150m under a catastrophe bond issued by the World Bank's International Bank for Reconstruction and Development.

Digital bonds could play a greater role in financing verified impact and help to close the US$6trn per year annual climate and nature finance gap, according to the Green Digital Finance Alliance. 

Huang Shilin, a shareholder of Shenzhen and Hong Kong-listed Contemporary Amperex Technology, is set to raise Rmb17.2bn (US$2.4bn) from a share transfer. 

An €839m sole bookrunner role on an accelerated bookbuild in Portuguese utility EDP has extended Goldman Sachs' dominance at the top of EMEA ECM league tables to a level not seen since 2009.

The debuts of online brokerage Groww and payments company Pine Labs were a welcome change for listings in India following lacklustre subscriptions in recent deals.

Grayscale Investments filed publicly on Thursday for its highly anticipated NYSE IPO as the crypto asset manager looks to cash out insiders. 

French medical diagnostic company Sebia has launched a €1.9bn-equivalent dual-currency term loan B to back its buyout by a consortium led by Warburg Pincus, with pricing that aims to distinguish the firm from weak sentiment in the French laboratory sector.

Indian clean energy developer ReNew Energy Global is likely to raise more than US$4bn-equivalent through a mix of loans and bonds over the next two years to fund its pipeline of renewable energy projects as well as refinance debt falling due until mid-2028.

Portability provisions are muscling their way into a growing share of direct lending deals as private equity firms hunt for cleaner, quicker exits following a stretch of high rates and frozen valuations.

Restructuring lawyers and investors have put Merlin Entertainments on their watchlist, as the theme park operator struggles with a cash crunch and lower than expected Ebitda levels, sources said.