The US$9trn credit default swap market passed its latest test on Wednesday after an auction to settle CDS on Altice France determined protection holders would receive enough compensation to cover expected losses on bonds belonging to the beleaguered telecoms giant.

(LPC) – Citigroup has hired Rob Cascarino from JP Morgan as co-head of debt capital markets for the UK and Europe, Middle East and Africa, alongside Uday Malhotra.

Richard Shrimpton is leaving Lloyds Banking Group, where he is deputy treasurer, according to a market source. 

The restructuring of Altice’s €24.1bn debt pile is set to provide the latest test for the US$9trn credit default swap market following months of wrangling over how to ensure a fair payout for protection holders.

The International Development Association has notched up another well-bid euro execution and kept the post-summer SSA market in the single currency humming. It priced the sustainable development bond in the popular seven-year bucket, which has seen close to €12.5bn in SSA benchmark volumes over the past two weeks.

Richard Shrimpton is leaving Lloyds Banking Group, where he is deputy treasurer, according to a market source. 

Fortune favoured the brave for several FIG issuers that decided to press ahead with euro debt offerings on Tuesday in spite of political uncertainty and wider secondary market spreads. 

Australia's Lynas Rare Earths has launched a fully underwritten A$750m (US$489m) share placement to accelerate growth.

Five banks will join Morgan Stanley on the underwritten tranche of Danish offshore wind developer Orsted’s DKr60bn (US$9.37bn) capital raise after the halting of its Revolution Wind project in the US on Friday knocked the company’s market capitalisation down to DKr75.26bn on Monday.

Jamjoom Fashion Trading Company is seeking to list on Saudi Arabia’s Nomu – Parallel Market with an all-secondary IPO expected to reach around US$80m–$100m-equivalent.

Japanese bank MUFG sold £150m of Thames Water inflation-linked liabilities in the last week, following a similar exit from Barclays earlier this month, as banks fear the embattled utility could collapse and fall into special administration, sources said.

Private credit’s rapidly growing investment in data centres and artificial intelligence may prove to be a risky bet amid signs of declining asset quality throughout the industry.

Debt financing to support Thoma Bravo’s buyout of HR software provider Dayforce is set to be provided by Goldman Sachs and Goldman Sachs Asset Management.

In a sign of the shifting landscape in private finance, asset managers such as Apollo, Blackstone and KKR are deepening their push into investment-grade private credit, targeting large, high-quality assets with bespoke lending structures.