UBS

More than $1.5bn worth of block trades completed within the space of three days this week showed that the summer break in European equity capital markets is well and truly over. The deals included two big Swedish sell-downs by EQT worth more than $500m, and a Sfr539m sale of Straumann Group shares.

Santander UK issued a highly oversubscribed senior unsecured euro benchmark from its holding group entity (holdco) on Thursday with virtually no concession, further illustrating the market’s desperate thirst for this higher yielding asset class.

Postal Savings Bank of China met with the sponsors of its upcoming $8bn Hong Kong IPO in Beijing on Thursday as the issuer approaches hitting the market, according to a source involved in the transaction.

Nordea raised €1bn of new tier two funding on Wednesday, securing tight pricing in an asset class that has remained largely untouched in euros since the UK’s EU referendum.

HSBC and Nordea looked to reopen euro issuance for FIG borrowers this week, as investors showed strong appetite for riskier and higher yielding debt after the summer period.

HSBC found strong demand for an eight year senior bond from its holding company on Tuesday, mirroring UBS’s recent reopener and revealing a potential opportunity for banks’ looking to issue more deeply subordinated debt.

China’s Yestar International Holdings Company and South Korea’s Nonghyup Bank have kicked off investor meetings for their respective bond offerings.

UBS this week priced a 10 year senior unsecured bond from its holding company that was described as an "absolute blowout", and which has improved prospects for tier two issuance.

ANZ New Zealand and Natixis Pfandbriefbank have mandated leads to roadshow euro denominated covered bonds.

A surfeit of supply hit the long end of the covered bond curve this week as issuers piled in to take advantage of extraordinarily cheap funding conditions that are unlikely to last long. Bill Thornhill reports.

Motherson Sumi Systems has appointed ICICI Securities, IDFC, IIFL, JM Financial and UBS as the leads on its qualified institutional placement, which is expected to raise $400m-$450m.

Hemant Sabherwal, a Hong Kong-based director of equity capital markets at Deutsche Bank, has left the German lender.