UBS

Hong Kong’s Hsin Chong Construction Group successfully completed its inaugural outing in the bond market, raising $250m with a three year offering on May 7.

Swiss cement maker Holcim is in a stand-off with its relationship banks over whether it can receive negative interest payments on its Swiss franc revolving credit facility, amid deeply negative interest rates, writes Elly Whittaker.

Turbulence in Bunds drove issuers away from the primary market in euros this week, with only UBS opting to sell a new issue — and even then opting for an extremely defensive print.

Alliance Automotive, the French-UK car parts distributor, was back in the high yield market on Wednesday selling a €50m tap of its only bond, issued last year.

Far East Horizon has been at the centre of its second selldown in less than a month, with KKR offloading shares via a HK$1.54bn ($199m) block trade on the evening of May 4. While there were plenty of orders, they were small in size because of the Hong Kong-listed stock’s recent run-up in value.

China Merchants Bank (CMB) New York branch opened books on May 7 to a $500m three year bond, which will be the issuer's first outing in the international debt market. Bankers on the deal hope to see huge demand for China Construction Bank’s bank capital trade spill over to CMB New York's issue.

Hsin Chong Construction Group launched its inaugural bond on May 7 with investors getting the chance to buy into a rare unrated issuer from Hong Kong.

UBS has named two global co-heads for its financial sponsors business, poaching one from Morgan Stanley and promoting another from within the bank

UBS is the darling of the Street, for restructuring its investment bank early and vigorously. But the moment to “do a UBS” might have passed.

UBS reported year-on-year profit growth of more than 50% on Tuesday, buoyed by strong performances in its investment banking and wealth management divisions.

Santander Chile took advantage of a lack of international supply in Swiss francs to print a tightly priced new seven year on Tuesday.

Dufry – HES Beheer – BCA Marketplace – Club Med – Grupa Azoty – International Bank of Azerbaijan – Kungsleden – UBM Group – Oriflame