UBS

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.

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.

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.

Chinese real estate developer KWG Property Holding made a successful return to the debt capital markets by printing a $400m bond after receiving an order book of $5.25bn.

China Merchants Bank (CMB) is to meet with investors a new bond. The trade will be issued by wholly owned subsidiary Airvessel Finance Holding in what would be its debut international bond.

Sustained cost-cutting allowed UBS to report almost a 20% increase in profits on Tuesday. By cutting expenses the bank was able to shrug off declining profits in its investment bank and wealth management business.

Bain Capital Glory has raised $130m through the sale of some of its shares in Gome Electrical Appliances Holdings, with strong demand from investors allowing the investment firm to exercise the entire $30m greenshoe option.

Investment company Temasek Holdings made its exit from New China Life Insurance Co through a block sale on Thursday evening, in a deal that raised HK$2.14bn ($276m) for the Singapore firm.