UBS

UBS is set to make a rare appearance in the Australian dollar market on Wednesday with leads offering guidance on a dual tranche five year print. The trade follows a Kangaroo sale at the long end of the curve from Wells Fargo, priced on Tuesday.

Petron Corporation Employees’ Retirement Plan (PCERP) sold a Ps4.37bn ($100m) stake in Petron Corp on August 18 with a block that was driven by residual demand from a transaction five months ago.

Matthew Karwelies, an equity derivatives sales official at Bank of America Merrill Lynch, has joined UBS.

UBS has moved to fill a recent gap in its financial institutions group’s debt capital markets business with a hire.

Upcoming changes to credit default swap (CDS) definitions could have a positive effect on the contingent convertible securities (CoCo) market, allowing investors to buy CDS protecting against the conversion of tier two securities into equity for the first time. The new hedging options are expected to tighten spreads in the CoCo market and could help to avoid dramatic sell-offs.

Giles Borten, co-head of EMEA corporate debt capital markets and sole head of EMEA leveraged finance at UBS, has left the bank, according to an internal memo seen by GlobalCapital.

BNP Paribas hires capital structurer - Citi appoints EQD head - Reinhart to join UBS for FIG - JPM takes on City veteran

Total returned to the Swiss franc market in style on Tuesday, quadrupling its original size ambition as investors rushed to place orders for the French oil company's first issue in the currency for more than five years.

The Swiss franc market’s summer hiatus looks to be coming to an early end with Credit Suisse and Wells Fargo selling well received deals in Swiss francs this week.

China Construction Bank Asia (CCB Asia) pulled off a smart move this week, getting ahead of an expected September rush of deals to price its debut Basel III tier two offering on Wednesday. With large volumes of bank capital expected from Chinese banks, getting in early allowed CCB Asia to come inside a rival's curve, writes Virginia Furness.

Wells Fargo burst into the Swiss franc market with its debut trade in the currency on Wednesday. The issuer’s solid name recognition among local investors and an appreciation for its large retail banking operation allowed the issuer to exceed its original size ambitions despite pricing comfortably inside of other US banks.

The world’s fourth largest mobile service provider, Bharti Airtel, raised Rp21.4bn ($349m) on August 7 by offloading parts of its stake in Bharti Infratel through a trade that was almost double the size the seller originally planned.