Editorial: An esoteric battleground

Author: | Published: 22 Aug 2016

When British dental company Mydentist issued its £425 million high yield bond on August 5, the UK's debt markets and its commentariat should have been celebrating. The firm had just sold the first sterling bonds since the UK voted to leave the EU on June 23, signalling that British issuers could still price a deal in an apparently apocalyptic environment.

There were other reasons to cheer. The deal saw the first listing of bonds on the Channel Islands Securities Exchange –...