UBS

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.

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.

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.

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.

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.

Rating: A-/A

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.

UBS's former global head of DCM and client solutions has landed a new role at Citi, as head of markets and securities for Italy at the US bank.

Gazprom showed up in the Swiss franc bond market on Wednesday attracting enough Russian buyers to help it pay its lowest ever coupon in the currency. The energy company gathered a wide variety of investors, from Switzerland and Russia, retail and institutions, for the deal.

Veteran bonds bankers Paul Au and Patrick Liu have left UBS, with the bank also seeing changes in its credit distribution department in Asia Pacific.

UBS was warmly received for the first one year senior callable bond from a European bank on Wednesday, sparking hopes that other issuers will also be able to take advantage of the TLAC and MREL-friendly format.

Gazprom gave convincing evidence that lightning can strike twice on Wednesday, offering its second bond to the Swiss franc market in the past eight months. The bond attracted heavy international interest –– a rarity in the market this year.