UBS
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Standard Chartered sang the praises of the Reg S only dollar market this week, after building a chunky order book behind its first tier two in the format in seven years. The deal kick-starts a busy period of capital issuance for the UK bank. -
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National Express and Citycon mandated banks on Thursday for bond issues, piling into the November issuance spree before the market goes into hibernation next month.
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BBVA and DNB Bank were both looking to build towards their minimum requirements for own funds and eligible liabilities (MREL) in the euro market on Thursday, eschewing non-preferred senior issuance in favour of the cheaper preferred senior format.
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Sun Hung Kai & Co raised $350m from a new bond that exceeded its size expectation, helping support a tender offer.
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after 15 years away. The bond is expected to encourage Chinese issuers from across the credit spectrum to tap the euro market, writes Addison Gong.
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The first tier two from Spain’s Unicaja Banco was more than three times subscribed this week after it entered a strong new issue market. It appeared alongside ING, which paid a slim 5bp premium to print a deal in the same asset class.
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after a 15 year layoff. Bankers think the deal will encourage Chinese issuers from across the credit spectrum to come to the euro market.
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DNB Bank moved the pricing by 37.5bp on a new additional tier one (AT1) in the dollar market this week, becoming one of the first banks to break through the 5% pricing marker.
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A senior convertible bonds investor at Fisch Asset Management, the Swiss boutique asset manager, has resigned to take up a new role in London in January, GlobalCapital understands.
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Six Chinese real estate issuers — mostly high yield — flooded the dollar bond market on Monday with one to four year tenor deals. Investment grade rated China Vanke Co, on the other hand, tapped the longer end of the curve with a dual-tranche issuance.
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Shanghai Fosun Pharmaceutical Group, which bought Indian company Gland Pharma in 2016, is planning to list the subsidiary on the National Stock Exchange of India and the BSE.
