UBS

ING kicked off the financials market in euros on Monday, as the Dutch bank looked to extend out its callable curve at a holding company level, and with minimal new issue premia on offer, a slew of deals is set to follow.

Foreign central bank action sparked arbitrage opportunities in Swiss francs to shrink in 2020, so investors took a more domestic approach. As foreign issuance dries up, so too do Swissie mandates for international desks. Frank Jackman reports.

The Swiss National Bank said it is “willing” to increase the scope of its foreign exchange interventions to keep the Swiss franc’s value down, despite the US Treasury labelling it a ‘currency manipulator’ this week.

Gaming company Wynn Macau benefitted from a revival in sentiment around the casino industry for its bond return on Tuesday. It raised $750m from a tap of its 5.625% 2028 notes.

Country Garden Services Holdings Company has raised HK$7.785bn ($1bn) from a placement of new shares, riding on strong investor interest in property management services companies over the past year.

UK industrial and electronic products company Electrocomponents is financing a pair of acquisitions with a £180m capital increase.

The battle for the UK security firm G4S is entering its final phase, with initial hostile suitor GardaWorld potentially upping its offer after Allied Universal said it had agreed to buy the target company for £3.8bn.

Chinese detergent maker Blue Moon Group has raised HK$9.8bn ($1.27bn) from its Hong Kong IPO, which saw a strong turnout from global and local investors.

Hong Kong's CK Asset Holdings made a rapid comeback to the fixed-for-life bond structure this week, raising $500m from a new outing on Tuesday.

Philippine company SMC Global Power Holdings Corp added $350m to its coffers from a bond tap on Monday, taking advantage of market stability to return to investors rapidly.

UBS’s head of Asia equity capital markets Peihao Huang has resigned from her position. She will join JP Morgan’s ECM team, GlobalCapital Asia understands.

Two of UBS's most senior banker are taking on new responsibilities as Axel Lehmann leaves the firm.