UBS
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Equity capital markets specialists watched wild trading in the shares and rights of Banca Monte dei Paschi this week, after the rights to subscribe for its capital increase began trading on Monday. -
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HTSC pulled in a staggering $60bn of gross demand for its HK$34.72bn ($4.48bn) IPO in Hong Kong, giving the Chinese brokerage and securities house claim over the world’s second largest listing so far this year.
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The continuing saga of Kaisa Group Holdings reared its ugly head once again this week when Sunac China Holdings announced it had terminated the acquisition of a stake in the troubled property developer. But that had little impact on the primary pipeline, with two high yield real estate companies raising a combined $600m.
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Lower rated property developers from China are firmly back on the menu for fixed income investors with Fantasia Holdings Group the latest to try its luck on May 27.
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Eli Lilly, the US pharmaceuticals company, made its euro bond debut on Tuesday, printing seven, 11 and 15 year notes and proving that the market is still open for longer dated paper — at a price.
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HTSC pulled in a staggering $60bn in gross demand for its HK$34.72bn ($4.48bn) IPO in Hong Kong, giving the Chinese brokerage and securities house claim over the world’s second largest listing so far this year.
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Italy’s Banca Monte dei Paschi di Siena will on Monday launch a long-awaited rights issue to close a capital shortfall identified by European banking regulators last October.
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Keppel Infrastructure Trust priced the placement tranche of its S$525m ($397m) fundraising near the low end of guidance on May 21, with the deal getting a more than 2x covered book amid strong institutional interest.
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Aubélia Louédin, an emerging markets syndicate banker at UBS, has been put at risk of redundancy by the bank, GlobalCapital understands.
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While banks have engaged in some genuinely appalling conduct and been punished for it, the quantum of fines has become seriously disconnected from — well, anything. It is not just bad for bank shareholders, it is bad for regulatory credibility.
