UBS
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Italy’s UniCredit is about to become the first bank to sell an additional tier one deal since KBC Group’s transaction pushed market boundaries two weeks ago. UniCredit's deal also follows a period of repricing during which investors have pushed back on yields. -
China Construction Bank (Asia) priced its debut dollar issue on Tuesday night in a market that was digesting a spate of negative China headlines, including a bank run and a string of poor economic data.
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Shanghai Fosun Pharmaceutical Group has priced a HK$1.76bn ($227m) private placement to raise funds for debt repayment and to finance potential M&A.
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Bond and equity activity slumped in the first quarter of this year with both posting double digit falls in trade volume. However there are some bright spots with offshore renminbi activity reaching a record and technology stocks in vogue.
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Cable firm Polska Multimedia launched an IPO on Wednesday, as the sector continues to drive ECM issuance across Europe.
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The world’s largest pork processor WH Group, or formerly known as Shuanghui International, now has a record 28 banks working on its jumbo $5bn-$6bn IPO, according to bankers on the transaction.
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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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Syngenta, the Swiss agricultural chemicals group, followed yesterday's €750m euro bond hit with a Swiss franc deal today, storming through a triple tranche syndication on Tuesday afternoon.
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mBank closed a successful €500m five year bond this week. The issuer trades too tight for some emerging market accounts and is not a natural choice for investment grade buyers. But it drew enough demand from both groups to price an oversubscribed bond with only a minimal new issue premium.
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Phil Allison, head of EMEA equities and head of global cash equities, has left the bank, according to an internal announcement seen by GlobalCapital.
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Three financials are looking to retest the market’s appetite for additional tier one deals, after a two week hiatus for the asset class that has seen spreads on recent AT1 bonds widen, raising the question of whether the next round of trades will enjoy the stellar primary market successes of their peers.
