UBS
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The Swiss bank has dominated Asiamoney’s Private Banking Poll for most of its existence, but even UBS is finding it tougher to make money in this heavily regulated industry. -
State-owned China National Nuclear Power (CNNP) is planning to raise Rmb16.25bn ($2.64bn) from a Shanghai listing in what could be the largest A-share IPO since August 2010.
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Hainan Airlines is seeking its second publicly syndicated offshore renminbi issue, after announcing last month that it needs Rmb40bn ($6.49bn) of funding in 2014 to support business objectives.
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Shui On Land priced a dual tranche Reg S transaction on Wednesday night after the early participation period of an exchange offer for two of its existing bonds elapsed on Tuesday.
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Compagnie de Financement Foncier (CFF) came to market with its second Obligation Foncière of the year on Tuesday, matching the previous deal’s €1bn size — but this time in a 10 year maturity, rather than five year tenor.
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New York Life Insurance Co sold its first Swiss franc bonds since 2006 on Tuesday, drawing interest for a five year deal despite a low coupon.
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UBS has launched a high-capacity algorithmic trading platform for US equity swaps, SwapsDirect, allowing institutional clients to execute US equity swap transactions electronically directly from their execution management or order management systems.
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State Grid Corporation of China launched a triple tranche $3.5bn deal on Monday. While the 10 and 30 year tranches priced inside the curve of China National Offshore Oil Corporation (CNOOC), the deal nonetheless suffered from investor fatigue as the market struggled to digest the $9.5bn already raised by Chinese state owned enterprises this month.
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7-Eleven Malaysia Holdings will be taking an unusual approach for Malaysian deals when it launches its MR720m ($220m) IPO in the second week of May. Cornerstone investors will not be subject to any lock-ups.
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WH Group's ill-starred attempt at an IPO finally came to a crunching halt on Tuesday night, as the issuer pulled the plug on its HK$14.6bn ($1.9bn) deal, blaming market conditions. Despite the high profile of the deal, bankers are confident that the pipeline can withstand the failure. But that did not stop a furious debate as to why the deal had collapsed.
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New York Life Insurance Company sold its first Swiss franc bonds since 2006 on Tuesday, drawing interest for a five year deal despite offering investors an eye-wateringly low coupon.
