UBS

Tucker Highfield, Credit Suisse’s head of equity syndicate for Asia ex-Japan, has left the firm to join Bank of America Merrill Lynch, according to sources.

UBS nipped into the market ahead of the blackout period by issuing a jumbo-sized bond from its holding company on Tuesday.

Transurban Queensland Finance returned to the Swiss franc bond market on Wednesday with the Australian toll road developer’s deal a reassuring moment amid a period of scant issuance as investors fret about interest rates.

Bank of China (BOC) returned to the bond market with a Belt and Road blockbuster this week, raising around $3.2bn from a multi-tranche, multi-currency deal. Addison Gong reports.

India’s Dewan Housing Finance Corp (DHFL) finally sold its first offshore rupee bond this week in a deal which has been two years in the making.

Fully investment grade rated China Vanke Co had a good run in the international debt market on Wednesday when compared to its real estate peers this week, raising $971m from a five year bond.

Bank of China has priced bonds denominated in US dollars, euros and Australian dollars worth $3bn-equivalent, with another two tranches in New Zealand dollars set to be priced on Wednesday. The deal, sold under different branches of the bank, reflects the relentless bid for floating rate notes (FRNs).

China SCE Property Holdings and Powerlong Real Estate Holdings paid up to complete their dollar bonds on Tuesday, but the new issue premiums were widely expected by bankers.

Korean battery maker Samsung SDI Co has raised W559.9bn ($525.2m) after offloading its stake in Samsung C&T Corp at the mid-point of guidance, according to sources close to the deal.

HNA, the Chinese conglomerate, has postponed the flotation of Swissport, the Swiss air freight handling company, citing unfavourable market conditions.

The sell-off in Russian bonds is battering emerging markets investors, who are seeing the biggest spread widening since sanctions were first imposed on the country in 2014. Not only have the bonds of freshly sanctioned Rusal tanked but other Russian companies are selling off as investors fear they may be next, and the rot is starting to spread to the wider central and eastern Europe region as well.

UBS followed Santander this week by issuing a large senior deal designed to meet loss-absorbing capacity requirements, as both banks look ahead to first quarter results.