UBS

Fuyao Glass Industry Group Co priced Hong Kong’s biggest IPO so far this year at the top of its price range to raise HK$7.39bn ($951.67m). Buoyed by its discounted valuation, retail and institutional investors gobbled up shares in the glassmaker.

Standard Chartered started taking orders from investors for its first ever additional tier one (AT1) bond on Thursday, having gauged investor sentiment in Asia, Europe and US earlier in the week.

Market Tech Holdings, the company that owns London’s Camden Markets and floated for £100m on Aim in December, raised £112.5m to finance recent acquisitions on Tuesday, with a convertible bond.

The leads on Fuyao Glass Industry Group Co’s HK$7.39bn ($951.67m) IPO are guiding investors to the top of its HK$14.80-HK$16.80 marketing range, amid solid demand for its shares and a book that is now multiple times covered.

A senior structured credit banker has left UBS's investment bank in London.

Diesel engine component maker Asimco is said to be mulling revising terms for its $120m refinancing loan, to allow banks to get through their credit process more easily.

Obrascón Huarte Lain, the Spanish construction company, has managed to achieve savings of 325bp while making banks on the deal bridge the gap between the offer price and what investors have paid to them.

Equity accelerated bookbuild activity was lively this week, reflecting generally buoyant stock markets and investors eager for paper as quantitative easing begins to bite.

Nationwide and Caixabank launched the only two covered bonds this week. Despite both issuers getting the funding they wanted, the final outcome was poor in comparison to past standards.

Korea Deposit Insurance Corp (KDIC) shed some of its shares in Hanwha Life Insurance Co via a block executed on the evening of March 18. Launched to the market with a fixed price, the W133.4bn ($118m) deal focused more on size than on price.

Repsol, the Spanish oil company, has issued a €2bn hybrid bond as part of the long term financing for its $8.3bn (€6.6bn) acquisition of Talisman Energy.

Fuyao Glass Industry Group Co saw investors pile into its HK$7.39bn ($951.67m) IPO as books opened on Wednesday March 18, with demand from cornerstones and anchor investors alone already taking the trade into oversubscription.