UBS

The green bond market is set for some new action with Link Real Estate Investment Trust kicking off a dollar transaction on Thursday.

UniCredit used similar tactics on its accelerated bookbuild sale of 10% of Bank Pekao on Tuesday night to those it had used for Monday’s sale of FinecoBank — and achieved a similar result: multiple times oversubscription, led by one very large anchor order.

Russia's State Transport Leasing Company (STLC) printed the first new Russian quasi-sovereign paper for six years on Tuesday, taking advantage of the recent rally in Russia debt to draw a $2.5bn book for a $500m five year deal.

UniCredit has dominated the headlines again this week, but this time for a better reason. Italy’s largest bank has also been its biggest loser of shareholder value, its shares falling 75% since last summer, as investors have lost trust in the sector.

The renminbi is joining the IMF special drawing rights (SDR) later this year, but that achievement does not mean mission accomplished for China’s authorities. For Beijing to achieve its stated goals of making the RMB a reserve currency and the SDR a real world currency more steps will be needed, according to leading monetary policy experts.

Russia's State Transport Leasing Company (GTLK) has set final pricing for its debut $500m five year bond at 5.95% area, having released guidance at 6.25% area earlier on Tuesday morning in London.

UniCredit’s shares leapt 13.5% today after it declared the beginning of a strategic review of its business after the market close last night. The announcement coincided with the launch of a sale of 10% of one of its finest assets — FinecoBank.

State-owned Korea Gas Corp has become the first issuer from the country to venture out to the debt market following Brexit, netting $900m via two tranches that were sold at identical spreads.

UniCredit has launched this evening a sale of 10% of FinecoBank, its direct, multichannel banking subsidiary, at the same time as opening a strategic review of its business.

US soft drinks and snacks group PepsiCo returned to the investment grade European bond market after a two year absence on Monday, clinching a very tight new issue premium.

Italian gaming operator Sisal on Monday started a roadshow for the all-bond funding of its buyout by CVC Capital Partners, in a high yield market still stunned by the Brexit vote.

UBS has hired Chris Gibson-Smith, former chairman of the London Stock Exchange, as vice chairman of corporate client solutions EMEA, the firm's investment banking businesses.