UBS

Jingrui Holdings has been forced to put its dollar offering on hold after as bad news from the Chinese property sector deterred investors. But while bankers are solely blaming the macro backdrop, the company is small, high leveraged with a concentrated business model.

Online retailer JD.com is setting its sights on a $1.7bn Nasdaq listing having started receiving bids for the largest US flotation yet of a Chinese tech firm on May 12. The timing of JD.com’s deal comes hot on the heels of the much publicised IPO application by rival Alibaba, but bankers on the trade have dismissed it as nothing but a coincidence.

China’s Tianhe Chemicals Group started talking to investors in regards to a Hong Kong IPO on May 12, which could be worth around $1bn, according to bankers on the trade.

Bank of America Merrill Lynch has appointed Patrick Porritt as the lender’s new head of Asia Pacific Financing Institutions Group (FIG), according to an internal memo seen by GlobalCapital Asia on May 9.

Silicon wafer fabrication firm Inotera Memories raised $418m from a Global Depositary Receipt offering on May 8 tapping the markets at a time when its Taiwan-listed shares are at an all-time high.

Santander and UBS both took to the Reg S market on Thursday to sell subordinated debt to dollar hungry European and Asian investors.

UBS released first quarter results on Tuesday, extending a run of weak opening-quarter results from financials with a 41% decline in investment banking profits.

Swiss private bank Julius Baer will hold roadshows for its second ever Swiss franc tier bond next week, building on a solid week of issuance in the currency from domestic financial institutions.

South Africa's FirstRand Bank made its Swiss franc debut on Tuesday afternoon, becoming the second issuer from the country to tap the market in recent years. The investor bid was strong enough for the issuer to follow up with a swift increase the day after pricing.

7-Eleven Malaysia Holdings opened books for its MR732m ($226m) IPO on Thursday, safe in the knowledge that more than half the transaction has already been covered by cornerstone investors.

Non-US investors are hungry for dollar paper, as UBS builds a big book for its Reg S tier two contingent convertible bond, even as Santander taps the dollar market for its $1.5bn additional tier one.

China Cinda Asset Management made its dollar debut on Wednesday night with a $1.5bn dual tranche bond. Although negative sentiment on China led dealers to take a cautious approach with initial guidance, the trade was able to land inside fair value after pricing tightened by 25bp.