UBS

The two big Swiss banks will be the worst hit by the Basel Committee’s rules on trading book assets, according to research from Deutsche Bank, which could push Credit Suisse to shrink its credit and securitization businesses.

Dufry, the Swiss travel retail operator, has launched a term loan of up to €800m to finance its acquisition of World Duty Free. It will mainly be syndicated to relationship banks.

ING’s debut additional tier one bested the book sizes achieved by recent blowouts in the asset class by bringing in a $26bn book by Thursday afternoon — one of the largest books ever seen in AT1.

The senior unsecured market saw a spark of life despite the holiday shortened week, with €4.66bn equivalent getting away in two business days.

The primary market in covered bonds was active this week, but not in its staple euro market. Canadian issuers came to the fore, supplying benchmark deals in sterling and dollars.

UBS has made a big commitment to re-establishing its global medium term note business by hiring a well-known figure to lead the origination effort.

ING has seemingly obtained a strong enough investor response for its debut additional tier one to announce the deal before the roadshow has even ended.

ABN Amro, a regular in the private placement market where it often sells shorter dated senior debt, took to the longer end of the spectrum with a euro denominated deal that brought in orders exceeding €2.25bn.

Dufry, the Swiss travel retail operator, has launched a term loan of up to €800m to finance its acquisition of World Duty Free. It will mainly be syndicated to relationship banks.

UBS has promoted two employees to co-head its equities business in the Americas, according to an internal memo.

The block trade business has been hugely important to equity capital markets businesses so far in 2015, and at this stage UBS and Goldman Sachs are leading the race. But Bank of America Merrill Lynch has made a hefty effort to catch up.

Shanghai Haohai Biological Technology kicked off investor education for its $200m IPO on April 8, with the issuer’s strong credentials expected to make the stock a straightforward story to understand.