UBS

Allied Irish Banks revealed a 90bp jump in its fully-loaded common equity tier one ratio on Tuesday, and wasted no time in mandating banks for a highly anticipated tier two deal.

Hiscox secured strong demand for its £250m 30 year non-call 10 tier two notes on Tuesday as sterling investors showed no signs of fatigue despite a recent spate of subordinated issuance from British insurers.

Veritas Technologies, the Californian data storage company, has increased its high yield bond issue to make up for a disappointing loan financing. But initial price talk has yet to emerge.

Alfa Bank has mandated three banks for a senior dollar bond — only the second Russian financial institution bond this year — as the CEEMEA bond markets held stable after the terrorist attacks in Paris over the weekend.

China State Construction Engineering Corp (CSCEC) has made its offshore debut with a Reg S five year dollar issue. The firm braved a market that was crowded with four other dollar deals and still managed to come inside its fair value.

UBS enjoyed strong demand on Monday for its first holdco level senior debt in euros, with market participants divided on how its pricing compared to opco levels.

Rating: Baa3/-/-

Banco Popular Español became the first peripheral bank to launch senior debt in just under two months on Thursday, paying around 20bp of new issue concession to tap its outstanding February 2020 bonds.

Julius Baer became the first foreign bank to issue a Singapore dollar-denominated additional tier one (AT1) this week. By doing so, the Swiss lender has joined a growing number of banks that are satisfying their capital needs through the country’s bond market, writes Rev Hui.

Bank of East Asia (BEA) has proposed to buy back its outstanding Basel III additional tier one notes for cash and plans to issue a new offering as part of the lender’s liability management practice.

The Asia ex-Japan bond market sprung to life on November 12 with China Huarong Asset Management, China State Construction Engineering Corp and Beijing Properties opening books for dollar bonds, while Korea Housing Finance Corp (KHFC) opted for a covered bond and Malaysia’s Axiata Group, a sukuk.

Anheuser-Busch InBev, the Belgian-Brazilian brewer, submitted a final recommended offer for SABMiller on Wednesday, having raised a record $75bn loan to support the transaction.