UBS

China Merchants Bank made a return to the bond market on Tuesday, August 5 but this time the proceeds of the deal will go to its subsidiary CMB Leasing.

UBS has reorganised its debt capital markets operation, handing Fabio Lisanti, global head of DCM, responsibilities for a group of public side bankers in the remodelled DCM Client Solutions division.

China’s big four banks have finally started issuing Basel III debt in size onshore in what is expected to be a huge supply of deals. Bank of China and Industrial and Commercial Bank of China are first put of the blocks and could soon be heading offshore as well.

Jo Jo Thirasilpa has joined DNB Markets, the Norwegian investment bank, where he will work as a director in fixed income origination team in London.

Mark Yallop, UK CEO of UBS, will join the Bank of England's Prudential Regulatory Authority board as an independent member, starting in December. He is joined by Sandra Boss, an investment banking director at McKinsey, who starts in September.

Extensive preparation and cheaper pricing saw Jingrui Holdings to the finish line when the single B rated property reattempted a debut dollar issue on Friday. The Chinese borrower had returned to the drawing board after its first stab at the five year non call three offering in May failed to garner enough investor interest.

Jingrui Holdings has brought back a debut dollar deal that was put on ice two months ago as a result of poor market conditions. This time around, the single B rated borrower is flanked by a larger group of bookrunners and came out with more generous initial pricing for the five year non call three on Friday.

UBS reported this week that its DCM revenues for the second quarter were up 50.8% on the year — an incredible performance relative to its peer group and to the broader market. It credits US leveraged finance for much of the increase, but in Europe, bank capital raising was the sector which stood out.

Huvepharma - MacDermid - GNF Telecom - Amtek - Orion - Continental Foods

Moody’s changed its outlook on the Swiss banking system to negative on Thursday. The change was driven mainly by the Swiss regulator’s move towards implementing a new bank resolution framework allowing the bail-in of creditors of failing banks.

The telecoms arm of Spanish utility Gas Natural Fenosa is set to allocate its €325m acquisition loan on Thursday.

French supermarket group Casino Guichard-Perrachon made the most of a quiet week in the investment grade bond market when it priced a €900m 12 year bond on Wednesday at 125bp over mid-swaps, needing almost no new issue premium to bring in €2.6bn of orders.