UBS
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Vinod Vasan is set to become vice-chairman of global banking at UBS, moving on from a job he was handed only seven months ago as vice-chairman of EMEA debt capital markets. -
China's Evergrande Property Services Group has kicked off its IPO, aiming to raise up to HK$15.8bn ($2bn) with strong support from friends-and-family investors.
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Small transactions reached big audiences in the financial institutions bond market this week, as investors realised they would need to consider buying sub-benchmark supply in order to make the most of a dwindling deal pipeline. Tyler Davies and Frank Jackman report.
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Erste Group Bank and Société Générale both capitalised on the euro market’s extremely favourable conditions this week, pricing new subordinated deals in line with fair value or even through it.
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Goldman IBD heads: Lemkau out, Esposito in — UBS whistleblower hired by Therium — New Nordic bosses at Citi's BCMA
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Capital & Counties Properties, the London landlord that owns large amounts of Covent Garden, is strengthening its liquidity position by issuing a £250m bond exchangeable into shares of Shaftesbury.
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The People’s Republic of China returned to the European market on Wednesday, part of its plan to make euro bond outings an annual exercise. The €4bn transaction was a blow-out, with the order book well oversubscribed — and one of the three tranches achieving the sovereign’s first negative yield. Morgan Davis reports.
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Italy’s BPER Banca was more than three times subscribed for a small tier two deal on Wednesday, as sub-benchmark transactions prove more popular than usual in the euro market.
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Citycon Group, the Nordic shopping centre company, has signed €500m of revolving credit facilities. It wants to shore up its balance sheet as it teeters on the edge of a junk rating.
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As investors sought gold and silver as a hedge against inflation and uncertainty, investment banks with the capabilities to act in these markets benefitted. Some made more than $100m in precious metals in the third quarter, according to Coalition Greenwich.
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Ben Smyth, the whistleblower and former debt capital markets banker who took UBS to court, has been hired as an investment officer by the litigation funder Therium Capital.
