UBS

Fosun International successfully priced a tap of its existing 2023s on Wednesday, paying a premium to the outstanding deal in line with new market conditions.

Vodafone will not launch an IPO for its India business before March, even as the UK telecommunications giant wrote down the value of its India arm by €5bn ($5.4bn) following mounting domestic competition.

Country Garden Holdings launched a 10 put five dollar deal on Wednesday, marking its second transaction in less than two months, while Fosun International is pursuing a tap of its $300m 2023s.

Australia and New Zealand Bank issued its first euro-denominated covered bond in two years, but with less favourable market conditions investors have become more hesitant, and the deal attracted less than half the demand of one issued two months earlier by its New Zealand subsidiary.

UBS is rejigging its Hong Kong-based corporate finance group (CFG) and its team of junior China-focused country bankers, affecting about 20 staff.

US and European financing markets are wide open for business despite the shock US election result, and banks are pressing on with M&A mandates with seemingly renewed vigour. Elly Whittaker reports.

The US presidential election drove the Asian fixed income market to a near standstill this week and for most borrowers, Donald Trump’s victory has likely stalled plans for upcoming issuance. But Chinese property developers and local government financing vehicles, some of the names most desperate for funds, may keep the market moving for the rest of the year. Morgan Davis reports.

Investors had the opportunity to buy an additional tier one offering from a Chinese city commercial bank for the first time last week, with Huishang Bank Corp selling its debut dollar-denominated bond.

US and European equity investors have reacted with a degree of equanimity to Donald Trump’s capture of the White House, fastening on to the idea that he is likely to stimulate the US economy with deficit spending.

Hong Kong’s market regulator has warned that it may broaden its investigations into IPO sponsors, as it looks to act on other cases that have been brought to its attention.

Shares in Meyer Burger Technology, the Swiss solar panel maker, plunged 13% on Tuesday after it announced a recapitalisation programme involving a rights issue, an adjustment of the terms of the Sfr100m convertible bond it issued in September 2014, and the extension of a loan secured on one of its properties.

Zhongshan Dasin Holdings Co is planning to float a real estate investment trust on the Singapore Exchange via an IPO that could be worth around $400m, according to a source familiar with the matter.