UBS

Barclays and UBS blitzed the US market on Wednesday in a series of trades aimed at boosting levels of total loss absorbing capacity (TLAC) eligible debt.

UBS pulled in a $6bn book for the first additional tier one bond since the UK left the European Union on Wednesday, using a greenshoe option for a second time to ensure secondary stability.

Primary bond activity in Asia sprang back to life on Wednesday following a slow start to the week, with high yield issuance leading the way.

Philippine company Aboitiz Equity Ventures jumped at a chance to sell a Ps4.7bn ($100.0m) block of shares on Tuesday, taking advantage of a share price that is up nearly 30% year-to-date.

Czech software security firm Avast had commitments due on its $1.6bn equivalent six year term loan package, following a notable price tightening, on Tuesday, yet market participants remain sceptical about the broader tech sector's trajectory in European levfin.

CSI Properties completed a swift transaction on Monday in a market that is starting to slow down due to the summer break. Despite being unrated and with few direct comparables, the firm managed to slip in its first dollar bond in more than three years.

In a rarely seen occurrence in Asia, a Chinese company-led consortium is set to use staple financing to support its acquisition of shares in Australian company GenesisCare, according to sources.

Johnson Control’s automotive business, Adient, on Monday began a roadshow for $2bn-equivalent of high yield notes, with a 17 strong group of bookrunners.

Joseph Chee will head UBS’s Asia investment banking unit after co-head Saurabh Beniwal leaves at the end of the year, according to sources close to the move.

Two Hong Kong issuers hit the dollar debt market on Monday, with CSI Properties launching a new five year bond, while Hong Kong Airlines re-opened its existing notes, driven by reverse enquiry.

Everbright Securities kicked off pre-deal investor education on Monday for its over $1bn IPO in Hong Kong, with the recent recovery in markets expected to bolster demand for the transaction.

China’s fifth largest lender Bank of Communications Co has mandated leads for the Hong Kong listing of its investment banking arm BoCom International, which is likely to raise $300m, according to sources familiar with the matter.