UBS
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Amid the boardroom turmoil, strategic rethinks and headline grabbing megadeals, Europe’s most senior corporate financiers tell GlobalCapital’s David Rothnie why 2015 was a letdown and why 2016 will be better.
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Xinte Energy Co has opened books for one of Hong Kong’s last IPOs of the year, with a little over half of the HK$1.36bn ($175.4m) listing covered by cornerstone demand. -
UBS successfully completed a cash tender offer for Sfr6.1bn ($6.12bn) of its securities on Thursday, as the group looks to further strength its capital base.
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Market participants expect a large step up in senior holdco issuance early next year, putting further pressure on spreads and pushing issuers further afield for funding.
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It has not been an easy year for investors. Extreme bouts of volatility have damaged sentiment. Expectations of a US rate hike have buckled nerves. It is in times like this that banks really prove their value – and the most valuable of all this year has been UBS, according to voters in Asiamoney's Brokers Poll. Matthew Thomas reports.
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Asian analysts face one of the most exciting markets in the world. But they also face one of the most complex, dealing with a region that is vulnerable to macro factors while having country-specific risk factors in almost every sector. The following winners of Asiamoney's 2015 Brokers Poll proved adept at the juggling act this year.
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Pfandbriefbank, the Swiss mortgage lender, printed a dual tranche covered bond on Friday, drawing strong demand from local insurance companies and pension funds for the longer tranche of the deal.
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Repsol, the Spanish oil producer, issued a €600m five year 2.125% bond on Wednesday, in a torrid week for commodity markets, to finance a buyback of some Talisman Energy bonds.
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Canadian Imperial Bank of Commerce took advantage of a back-up in three year euro swap yields following the European Central Bank meeting last week to issue a covered bond of the same tenor.
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Unitymedia, the German cable operator, this week priced €420m of senior secured 10 year notes to yield 4.625%, the wide end of price talk.
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Citic Securities, one of China's top brokerages, is in the headlines for the wrong reasons again after two of its top bankers went missing.
