Europe

Chinese property developer Country Garden Holdings was forced to pull a Rmb1.8bn ($281.2m) three year Panda bond this week after investors demanded a better return amid rising volatility, writes Noah Sin.

An ex-SSA DCM banker has joined the UK's Financial Conduct Authority to focus on wholesale banking supervision.

French video game publisher Ubisoft Entertainment sold its first corporate bond on Thursday following a roadshow earlier in the week. The meetings in Paris, London and Germany helped the publisher of games including Assassin’s Creed and Just Dance build a whole new following.

The Hong Kong Monetary Authority (HKMA) has agreed to strengthen financial markets cooperation with Switzerland's finance ministry, an effort that will encompass pushing forward China's RMB internationalisation agenda.

KKR launched an accelerated bookbuild on Wednesday to sell its remaining stake in Pets at Home, the UK retailer. The trade priced at 174p, a 5.9% discount.

Former Citi credit trader James Duffy will be joining HSBC in London to trade financials single name credit default swaps.

Terratest, the Spanish geotechnical engineering business, has acquired US construction consultancy GeoStructures with funding from Tikehau IM.

KfW on Wednesday posted a clear sign that the path to 10 year dollars is wide open for public sector borrowers, printing a $3bn global that was the largest trade in the tenor for 2.5 years. That left SSA bankers rubbing their hands and speculating over which borrower might come next.

Jason Manske, the chief hedging officer and head of global derivatives and liquid markets at insurance giant MetLife, has joined the International Swaps and Derivatives Association's board of directors.

Telefonica Deutschland has been forced to issue a second round of price guidance on its €150m Schuldschein issue after launching it in early January, after investors' demand was cooler than expected.

Corporate bond investors were treated to a relative feast of issuance on Wednesday following a meagre €850m of supply in the first two days of the week. A trio of higher beta names offered a variety of tenors and spreads for investors to choose from.

UBS picked up more than $8.25bn of demand on Wednesday for a perpetual non-call five additional tier one (AT1) bond, after announcing full year results for 2017 earlier this week.