UBS

UBS Group skirted volatility in global financial markets to issue an 11 year non-call 10 year senior unsecured bond in dollars on Tuesday. The Swiss lender offered a small premium to investors, with a final spread of 140bp over US Treasuries.

The head of equity capital markets for the German speaking region at Bank of America Merrill Lynch has left the bank and retired after more than two decades in the investment banking industry.

Banks are racing to expand their sponsors coverage teams as they fight to remain relevant to private capital providers at a time of disintermediation in investment banking. By David Rothnie.

China Aoyuan Group was back in the dollar market on Tuesday, adding another $250m to its 2023 notes.

UBS and Citi trader Tom Hayes was jailed for 11 years for manipulating Libor. But while the trader argued that he was made a scapegoat for the financial crisis, perhaps the rate he rigged is a bigger victim.

Chinese robotics company CloudMinds has taken its foot off the pedal for its New York Stock Exchange IPO, initially expected around this week, and is instead waiting for less volatile global capital markets, according to sources close to the deal.

Banco Santander felt vindicated in cancelling Andrea Orcel’s appointment as group chief executive when it later found out that he had been recording conversations without permission, the Spanish bank said in a statement on Friday.

Private equity firm Blackstone has mandated four banks to support its acquisition of India’s Essel Propack (EPL), a specialty packaging company.

Darren Novak, head of activist defence at UBS, has moved from New York to London, with the bank seeing an opportunity to improve its service for European companies seeking to deal with activist investors.

An infrequent FIG issuer returned to the medium term note (MTN) market this week to place the second of a pair of identical floating rate notes (FRN) this month. While on Wednesday, another bank brought back a structure that has rarely been seen since the financial crisis, according to one banker.

As the market prepares for Libors to end their run as the world’s most prevalent reference rates, there is growing support for the benchmarks to be reprieved.

Bank of Montreal offered dollar investors a very rare chance to buy Canadian additional tier one paper this week, having spied an opening for a tightly priced deal.