UBS

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.

Ross emerges on the buyside - SocGen hires DZ's MTN head - RBS's Anhamm heads back to ABN - Citi poaches MS bank analyst

Sino-Ocean Land made what one banker called a quasi-debut in the dollar market on Wednesday, pricing a five and 10 year dual trancher. Against a resilient market backdrop, the deal attracted $4.75bn in bids.

Conan Tam, a managing director in UBS’s DCM syndicate desk, has left the Swiss lender and is joining Bank of America Merrill Lynch, GlobalCapital Asia understands.

The equity capital markets have seen more jumbo deals than any time since 2008 so far in 2014, bringing league table success for the banks that have managed to pick up mandates on the deals for financial institutions.

UBS has hired Amir Heravi, a former equity derivatives trader at BNP Paribas in New York, as co-head of index flow trading, also in New York.