UBS

UBS has named a top executive in Zurich to take over as its India country head from next year, according to an internal memo seen by GlobalCapital Asia.

Times Property Holdings sealed a $300m deal on Wednesday in a market that continued to prove difficult, while Orient Securities raised $500m from a 2022 bond to keep its investor base alive.

UBS has named a top executive in Zurich to take over as its India country head from next year, according to an internal memo seen by GlobalCapital Asia.

Chiyu Banking Corp and Shanghai Commercial Bank hit the debt market for their debut international subordinated bonds on Tuesday, but each was met with a different response from investors.

Investment grade issuers China State Construction International Holdings and Shenzhen International Holdings raised $800m and $300m, respectively, on Tuesday. But their bonds struggled to perform in secondary due to lingering softness in the market.

Thailand’s Gulf Energy Development Co has priced its IPO at the top of guidance, raising Bt23.9bn ($730.4m) from the largest corporate listing in the country in over a decade.

The barrage of Chinese debt issuers in the dollar market continued on Wednesday as four issuers ventured out with new bonds.

Broad demand helped Mexico’s Crédito Real price the first perpetual hybrid from a Latin American non-bank lender at the tight end of guidance on Tuesday.

The year-end bond rush is upon us, with a number of issuers from China, India and South Korea mandating banks on Tuesday for their planned dollar bonds.

China’s Tianqi Lithium Corp raised $300m on Monday, with its dollar bond debut being more than six times covered. Several factors coincided to give the deal a fillip, including the scarcity value of the company's notes, its market leading position, and a yield pick-up over similarly rated state-owned names.

China State Construction International Holdings and Shenzhen International Holdings are taking bids for dollar bonds, while Yiwu State-owned Capital Operation Co has mandated banks for a Reg S deal. On the other hand, Lifestyle International Holdings has decided not to pursue its fundraising for the time being.

Chiyu Banking Corp is marketing its first international bond, following in the footsteps of its Chinese peers with a Basel III compliant additional tier one trade.