Banks

UniCredit made the unusual decision of adding a one year call option to a preferred senior bond on Tuesday, nodding towards the bond’s potential value as total loss-absorbing capacity (TLAC). The Italian bank won strong support on a day when dovish central bank comments were fuelling a big rally in the value of risk assets.

Deutsche Bank’s plan to create a new non-core unit, housing €50bn of assets largely from its markets and banking businesses, is just more of the same old Deutsche restructuring plan, warmed over for a new management team. If a non-core unit, cuts to costs, simplification of business lines, a dash of IT spending and a focus on the best businesses didn’t work when Deutsche stock was at €30, why would it work at €6?

Infineon Technologies, the German semiconductor maker, has raised €1.54bn of fresh equity to finance its takeover of Cypress Semiconductor, an American rival, via an accelerated bookbuild.

The Black Sea Trade and Development Bank (BSTDB) has said it is focusing on selling a three year bond this week.

HSBC has appointed Alexander Malloch as head of its international subsidiary banking (ISB) business in Thailand.

Korea Electric Power Corp (Kepco) made a remarkable return to the debt market on Monday, selling a $500m green bond as its first public dollar deal in 15 years.

Xi'an Municipal Infrastructure Construction Investment Group Corp has sealed a seven times subscribed bond to refinance an upcoming maturity. The deal was the first to price after China announced measures to curb local government debt by restricting new offshore issuance from their financing vehicles.

ESR-Reit, a real estate investment trust, has raised S$150m ($109.4m) from a combined placement and preferential offering of new units.

ABN Amro has appointed an ex-Barclays banker as its new head of UK FIG DCM.

Maybank plans to return to the Chinese debt market on Wednesday with a Rmb2bn ($289m) Panda bond offering after a two-year hiatus. This time around, the Malaysian lender has roped in a policy bank as the trade’s lead underwriter.

Singapore’s Marina Bay Sands is seeking a total of S$4bn ($2.9bn) from the loan market, while also planning to extend its 2012 borrowing.

Xinyi Glass Holdings and Xinyi Group (Glass) Co sealed a HK$1.18bn ($150.3m) block trade of Xinyi Solar Holdings' shares on Monday after a lock-up expired on their positions in the company.