UBS

VTB Bank on Thursday became the first Russian issuer to issue in the Swiss franc market since Russia’s annexation of Crimea earlier this year, shrugging off the worries of some syndicate bankers to increase the size of the subordinated bond while pricing competitively to Gazprombank’s own Swiss franc tier two.

There were big increases in overall volume for Asia Pacific ex-Japan bonds, loans and equity in the first six months of 2014, with bonds and loans posting their biggest ever first half results. DCM rose by 9% from the same period in 2013, to $576bn, while loans jumped 16% to $243bn. ECM volumes were up 15% to $107bn, the highest level since the first half of 2011.

VTB Bank is set to become the second Russian issuer to tap the Swiss franc market this year, selling a tier two bond on Thursday. The deal is receiving a positive response from investors, according to bankers involved, despite some concerns about the geopolitical situation in Eastern Europe following Russia’s annexation of Crimea.

China’s Beijing Urban Construction Design & Development Group raised HK$928m ($120m) on June 30 by pricing its IPO at the bottom of its indicative price range. Institutional books were said to be comfortably covered although the same could not be said of the retail tranche, which ended up only 38% subscribed.

Telecommunication and mobile phone retailer Beijing Digital Telecom was forced to price its HK$883m ($114m) IPO at the bottom of guidance on June 30 as investors showed signs of deal fatigue after a rush of deals in June.

Chinese social media platform Tian Ge Interactive Holdings has priced its IPO just a little short of the top of the range, netting the company proceeds of HK$1.6bn ($206m).

Swiss syndicate bankers are debating whether investors will shun a tier two bond being issued by VTB Bank this week following Russia's annexation of Crimea earlier this year. The issuer completes a roadshow in Switzerland on Wednesday.

Telecommunication and mobile phone retailer Beijing Digital Telecom was forced to price its HK$883m ($114m) IPO at the bottom of guidance on June 30 as investors showed signs of deal fatigue after a rush of deals in June.

DBS and UBS brought an unusual convertible bond to market this week, pricing a Rmb1bn ($161m) synthetic renminbi deal whose coupon and principal are payable in dollars and which was also wrapped by a standby letter of credit (SBLC) provided by DBS.

Pakuwon Jati made its first appearance in the international bond market since 2006 when it priced a five year non call three dollar offering on Wednesday. Rarity value spurred demand and despite a steep price revision, the bond traded up in secondaries.

Beijing Digital Telecom opened books for its HK$1.18bn ($153m) Hong Kong IPO on June 25. With around 40% of shares already taken by cornerstone investors, the issuer is riding on the positive sentiment surrounding the company with its deal.

Beijing Urban Construction Design & Development Group launched its HK$1.11bn ($144m) IPO on June 24 — a deal that will present a challenge to investors due to a lack of comparables.