UBS
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Malaysia’s sovereign wealth fund Khazanah Nasional has raised Rp5.5bn ($80.4m) after offloading its entire stake in India’s IDFC Bank. -
Ronshine China Holdings started taking orders for its inaugural international bond on Thursday. The deal was announced with substantial anchor orders following the roadshow, said bankers.
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Teddy Sagi, the entrepreneur, used a block trade on Tuesday night to offload shares in Playtech, the FTSE 250 gaming software business he started in 1999, for £329m.
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Brazilian steel company Usiminas, which restructured its bank loans and domestic debt in September, has said it will attempt an exchange of its dollar 2018 bonds, which were not part of the restructuring.
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Chinese selfie app maker Meitu has cracked open books for its potential HK$5.5bn ($710.4m) IPO, a deal notable for coming from the technology sector — a rarity in Hong Kong’s primary market.
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State-owned CSC Financial Co has opened books on its HK$8.2bn ($1.1bn) IPO in Hong Kong, with value seen for the shares at the low end of the price range.
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Chinese auto company Loncin Holdings launched a new dim sum bond Monday, the issuer’s first international market transaction, as two other Chinese names issued mandates for their own debuts.
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Swiss telecoms company Swisscom took domestic investors on a trip down negative lane on Wednesday as it printed a Sfr200m ($197.5m) eleven year note with a 9bp negative new issue premium.
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China Securities Finance Co is poised to be the fourth brokerage to raise about $1bn in a Hong Kong IPO this year when it launches on Monday, having set terms for the trade.
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The busy equity block trade action, widely predicted by ECM bankers when the US presidential election produced a bounce in share prices, has continued this week with a string of sales totalling over $1.5bn.
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UBS had no trouble getting involved in the nascent trend for one year callable senior bonds this week, joining an already long line of similar deals from US banks. It won’t be the last we see of the TLAC-friendly structure, as Standard and Poor’s, regulators and investors all seem to be giving their approval. The new format is set to become a mainstay in Europe’s constantly shifting senior bank debt market.
