UBS

Shui On Development (Holding) has become the latest Asian issuer to announce a senior perpetual bond, while Brightoil Petroleum (Holdings) has hired two firms to work on an offshore outing.

Many equity market participants thought the wave of big European bank recapitalisations was beginning to wind down, until Santander surprised the market on Wednesday by announcing a €7bn rights issue to recapitalise Banco Popular, its failed domestic rival, after agreeing with European regulators to buy the bank for €1.

Chinese property developers are increasingly looking at 364 day bonds as a way to sidestep approval delays from the National Development and Reform Commission, after Fantasia Holdings Group Co sold a $350m public note this week. Short-term bonds offer a quick fix for borrowers, but there are concerns over whether this is sustainable in the longer run, writes Addison Gong.

Celltrion Healthcare has firmed up the price range for its up to W1tr ($897m) flotation on South Korea’s Kosdaq, with bookbuilding set to kick off in mid-July.

Singapore IPOs are heating up as NetLink Trust began drumming up interest on Tuesday for a $1.5bn IPO, set to be one of the country’s largest this year, with AEP Reit expected to follow soon.

Deutsche rejigs loans team — Citi makes senior appointments — Goldman in Aussie push — UBS loses DCM syndicate banker — RHB, AmBank kick off merger talks

Liberty Global’s UPC Holding locked in a coupon of below 4% for a 12 year bond, the longest maturity for a new deal in the European high yield market so far this year.

Chinese developer Fantasia Holdings Group Co wrapped up an unrated short-term note on Tuesday, snapping up $350m for refinancing. Bonds with maturities of less than a year are increasingly being considered by Mainland issuers, given the barriers in getting regulatory approval to go offshore for fundraising.

Two Hong Kong-listed firms sold new equity on Tuesday via block trades at double-digit discounts, as Jiayuan International Group and Grand Baoxin Auto Group raised a combined HK$2.2bn ($277.1m).

Nordic Capital and Avista this week completed the second block trade in ConvaTec, the UK wound care and catheters company, since its £1.6bn IPO in October 2016.

Delivery Hero, the German online food delivery marketplace, announced its intention to float on Tuesday morning, ending months of speculation about its intention to go public.

South Korea’s GS Caltex Corp bagged a $400m five year deal on Monday, securing buy-side support thanks to its credentials, despite a soft market backdrop.