UBS
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Morgan Stanley Private Equity Asia reduced its stake in China’s Sihuan Pharmaceutical, raising HK$1.12bn ($145m) on April 2, two weeks after the company’s senior management raised a similar amount via a another transaction. -
Investors are sinking their teeth into subordinated FIG debt this week, with insurance company NN Group and BBVA both bringing in big books for their deals.
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Luke Clayton has joined UBS as managing director, senior relationship manager for Japanese equities, in the fourteenth Japanese equity hire at the bank in just over a year.
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China Merchants Holdings International will offer HK$15.3bn ($1.97bn) worth of mandatory convertible securities to its existing shareholders in a deal that could improve the company's credit rating.
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Kazakhstan Temir Zholy, the national rail company of Kazakhstan, held a one day fixed income roadshow in Switzerland on Friday March 24. A bond issue from KTZ in Swiss francs would be the first in the currency from Kazakhstan.
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The world’s largest pork processing company has launched its jumbo IPO with a 28-strong syndicate, which could results in some disagreements, particularly as the valuations of comparable companies are so diverse, said bankers on the trade.
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UBS has appointed Paul Au and Patrick Liu as co-heads of Asia DCM, finally filling a role left empty by the departure of Guy Wylie in June 2012. The appointment takes effect immediately.
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Petron Corporation Employees’ Retirement Plan sold a $120m stake in Petron Corporation overnight on Wednesday, increasing the transaction size by $20m due to a high level of long-only demand.
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Sweden’s Stadshypotek returned to the covered bond market on Monday, pricing a five year deal with the tightest spread in at least three years for any covered bond issuer outside of Germany.
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Beijing based iKang Healthcare Group opened books for its $153m Nasdaq listing on Wednesday, offering investors exposure to one of the fastest growing industries in China.
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mBank, Commerzbank's Polish unit, issued a €500m five year bond this week, in a deal that successfully struck a balance between emerging market and investment grade specialists. The issuer trades too tight for some emerging market accounts and is not a natural choice for investment grade buyers but drew enough demand from both groups to price an oversubscribed bond with only a minimal new issue premium.
