UBS

Mortar producer Parex Group will this week or next launch high yield bonds to back its takeover by CVC Capital Partners, lead bankers have told GlobalCapital.

UBS is bolstering its senior ranks to take its revamped corporate finance business to the next level, writes David Rothnie

Chinese leasing company UT Capital Group, a wholly owned subsidiary of Haitong Securities, launched its inaugural international bond - a three year dim sum – on Thursday.

The $1.78bn IPO of Chinese online retailer JD.com got a rousing reception from investors, so much so that bankers on the trade were forced to cross out one third of the bids.

Yanzhou Coal Mining (Yancoal) priced a perpetual non call two year hybrid on May 15 to bolster its balance sheet. As slowing economic growth in China fanned concerns about the prospects for the country’s coal industry, the issuer took a cautious approach to structuring and had to pay a hefty premium.

Manulife Financial has appointed Kai Sotorp as president and CEO of Manulife Asset Management and executive vice president and global head of wealth and asset management. The appointment is effective on or around July 1.

Mortar producer Parex will this week or next launch high yield bonds to back its takeover by CVC Capital Partners, lead bankers have told GlobalCapital.

Julius Baer, the Swiss private bank, sold its second ever AT1 deal on Tuesday afternoon. The issuer was able to price an oversubscribed trade at the tight end of guidance as Swiss and Asian investors seized on the deal's attractive coupon.

UK financial software provider Ion Trading is increasing a €776m-equivalent March 2013 term loan to €804m.

China Construction Bank (CCB) Frankfurt branch launched the first Frankfurt-issued renminbi-denominated bond from a subsidiary of a Chinese name on Monday morning. The two year transaction, which will clear and be listed in Frankfurt, had attracted more than Rmb1bn ($162m) in orders less than half an hour after books were opened.

Haitong Securities is meeting investors in Hong Kong and Singapore this week for its inaugural dim sum bond.

7-Eleven Malaysia Holdings’ drawn-out pursuit of a listing on Bursa Malaysia ended on a positive note as the MR732m ($226m) IPO priced at the top of its indicative price range on May 16. But with just 8% of the deal eventually placed with institutional investors through a bookbuild, it ended up looking more like a private placement.