UBS

Joseph Chee, Asia head of global capital markets at UBS, has returned to work after he was placed on a leave of absence in February, ahead of an internal enquiry into hiring practices.

China Construction Bank (Asia) is looking to make its US dollar debut with a three year offering. The deal comes just less than three weeks after the issuer raised Rmb4bn ($650m) in its maiden dim sum offering that was also its first ever issue.

The Co-Operative Bank will turn to its existing shareholders to raise an extra £400m in an emergency cash call that will keep the bank from looking to the public equity markets.

Advent International, Danish pension fund ATP and Bain Capital have agreed the latest leveraged buyout in Europe. The consortium is buying Nets, a Danish provider of payments, information and digital identity solutions, for Dkr17bn (€2.3bn) with leverage of seven times Ebitda.

Polish financial mBank started execution on a senior unsecured bond on Monday morning. The Commerzbank subsidiary is aiming to attract investment grade and EM investors into the deal, it's first since a rebranding late last year. But the outlook for more traditional CEEMEA supply was uncertain, said debt bankers.

The first Italian additional tier one capital issue could be very close, as bank capital specialists prepare for the new product's next phase of growth after a two week hiatus.

Royal Bank of Scotland returned to the funding markets late last week for its first standalone bond issue since 2008.

Investors in privately placed MTNs are searching far and wide for yield. Bank issuers from Asia and the eurozone periphery are finding strong demand and will send a spate of notes in the coming weeks, medium term note dealers say.

Lloyds Bank has completed the non-US portion of its exchange of tier two capital instruments for CRD IV-compliant additional tier one, and succeeded in increasing the capital raising.

US interest rates are likely to rise next year. Janet Yellen dared say as much at her maiden press conference as Federal Reserve chair on Wednesday, provoking a swift rise in the Treasury curve.

Rumours of the death of one of the most enduring relationships in global mergers and acquisitions are exaggerated, says David Rothnie.

Lloyds Bank has completed the non-US portion of its exchange of tier two capital instruments for CRD IV-compliant additional tier one, and succeeded in increasing the capital-raising.