Switzerland

UBS pulled in $13bn of demand for a holdco senior debut in dollars this week, which for some bankers showed the gulf between attitudes towards loss-absorbing debt on either side of the Atlantic.

Coca-Cola made an impressive debut in Swiss francs on Tuesday with a three tranche deal that matched Shell’s August record-breaker in size.

UBS made a successful holdco debut in the US markets on Monday. More than $13bn of demand propelled the triple tranche note inside Credit Suisse’s indicative secondary curve.

Iron ore pellet producer Ferrexpo’s talks to reprofile pre-export finance (PXF) debt have taken on an added urgency, after a Ukrainian lender in which the firm held some $174m was declared insolvent.

Everything fell into place for Glencore’s $2.5bn capital raising on Tuesday evening, as the company managed to raise its target sum with an accelerated bookbuild as a 9.99% share of its equity, just below the trigger for a rights issue.

Symetis, the Swiss company that makes heart valves, began the bookbuild for its Sfr80m IPO on the SIX Swiss Exchange on Tuesday.

Vitol held a bank meeting last week to refinance its flagship loans. The Swiss-headquartered firm will not increase the loan from $7.5bn, according to bankers.

The Euromoney Smaller European Companies Index Series currently comprises 1350 companies across 16 European countries.

Rarity value ensured strong demand for Bank of Nova Scotia’s return to the Swiss franc market in a week that also saw local insurer Helvetia continue its series of successful hybrid placements.

Middle market investment bank Baird has hired a head of investment banking for Germany, Austria and Switzerland, a new role at the firm.

Oil trader Vitol has mandated five banks to lead its $7.5bn refinancing and will launch the deal imminently, according to a banker on the deal.

Symetis, a Swiss company that makes artificial heart valves, began investor education on Tuesday for an IPO of up to Sfr80m on SIX Swiss Exchange.