UBS

ICBC International Holdings has announced the first offering under its new $1.2bn MTN programme.

UBS executed its first interest rate swap on behalf of a client via an anonymous swap execution facility order book late last week.

The dim sum market is in full swing this week, with Mitsubishi UFJ Lease & Finance, Unilever and China Citic Bank all pricing three year deals on Thursday.

The list of Chinese firms eyeing up an US IPO has just gotten longer thanks to mobile game developer Chukong Tech, which is planning to raise $150m in the second half of the year, according to a banker close to the deal.

UBS Securities is poised to enter China’s futures market, after agreeing to buy a majority stake in brokerage Shanghai Pumin Futures. The move makes the Swiss firm the first foreign securities business to have an investment in a business licensed to carry out a full range of services in China.

Unrated Hong Kong issuer New World Development Company upsized its seven year deal from $600m to $750m and priced at the tight end of the range due to an unexpected level of investor demand.

Equity-linked bankers hoping for 2014’s wave of large, high quality deals to begin may have to wait a little longer, after reports on Wednesday that Telefónica's proposed €8.6bn acquisition of KPN’s German business may be delayed.

Danish outsourcing firm ISS launched a $2.1bn-equivalent IPO on Tuesday, trying a listing again for the fourth time with reduced leverage ratios and better market conditions.

Swiss syndicate bankers are expecting a renewed surge of emerging market issuance in the near future, with Indian issuer Bharat Petroleum and Brazilian financial Banco Safra both mandating for roadshows next week.

UBS Securities will buy a majority shareholding in Shanghai Pumin Futures, a Chinese brokerage, making it the first foreign invested securities firm in China that is licensed to carry out a full range of services.

The investment bank was the most profitable part of the UBS empire in 2013, scotching suggestions about a possible spin-off, writes David Rothnie

The Swiss bank’s new-look FIG team has confounded the sceptics, writes David Rothnie.