UBS

UBS has hired from insurance company FWD Group to fill the position of head of financial institutions group for Asia Pacific.

India's Adani Transmission wooed investors to a $500m long-dated bond issuance on Thursday, offering them some concession for the amortising nature of the notes.

Andrea Casati, vice-chairman of equity capital markets for Asia Pacific at UBS, left the bank earlier this month, according to a source close to the situation.

China Aluminum International Engineering Corp (Chalieco) raised $350m from a senior perpetual bond after closing the order book much earlier than usual. Shanghai Electric (Group) Corp made a rare visit to the dollar market.

The positive market backdrop has driven smaller and less well-known bank issuers to come forward with rare new bond issues. But they are showing up just as investors pack up for the year, meaning they must work hard to lure enough demand, writes David Freitas.

A trio of triple-B rated companies brought bond sales totalling €2.75bn on Thursday, as a primary market abuzz with official stimulus roared towards the year's close.

One Middle Eastern bank is in the market with a sukuk additional tier one note, while a second announced it will go on the road for its own AT1.

AIB Group has wasted little time in accessing the debt markets for subordinated capital. It launched a tier two bond this week, little over a month after selling an additional tier one (AT1) bond, adding to its minimum requirements for own funds and eligible liabilities (MREL).

Intesa Sanpaolo and Landesbank Hessen-Thüringen (Helaba) gave investors the chance to put money into preferred senior paper on Tuesday. Both trades attracted chunky order books and gave away a small new issue premium.

Road King Infrastructure returned to the dollar market for the fourth time this year on Monday. The borrower, which has favoured fixed-for-life perpetual bonds before, offered investors a slightly different perpetual deal this time that would see its coupon be reset but has no additional step-up.

The Securities and Futures Commission of Hong Kong has fined UBS HK$400m ($51m) for overcharging its clients over a 10-year period — in the latest penalty to hit the Swiss bank in the city.

Shares in Danish renewable energy firm Ørsted and in Salini Impregilo, the Italian construction company, continued to trade well this week, generating strong returns for block investors.