UBS

Chinese company Kingsoft Cloud Holdings has raised $510m after boosting the size of its Nasdaq float.

UBS has hired from China’s top banking and insurance regulator for a newly created job called China integration lead.

The UK Debt Management Office has picked the banks to lead the sale of its new October 2061 conventional Gilt, which will be its second of an unprecedented two syndications in a single calendar month.

Issuers are starting to feel more comfortable with the new normal of wider spreads as a flurry of deals dusted the Swiss franc market, including a rare operating-company level visit from UBS.

Issuance in the financial institutions bond market had a preferred senior flavour this week, with issuers finding this the most cost-effective funding compared with other asset classes. In addition, some of them can use it to fulfil regulatory requirements.

Royal Bank of Scotland has become the first European bank to issue subordinated debt in more than two months. It took advantage of strong demand in the sterling market this week, with investors confident that the UK lender will be well placed to withstand the economic impact of the coronavirus pandemic.

Kingsoft Cloud Holdings is on the road with its up to $450m Nasdaq IPO. Thanks to strong pre-launch demand, it is running a quick three-day bookbuild, according to a source close to the deal.

Peijia Medical is set to close bookbuilding for its HK$2.34bn ($302m) listing early after institutional investor orders flooded the deal.

Danske Bank was marketing a preferred senior bond on Tuesday, taking swift advantage of recent changes in Denmark that will allow banks to use these instruments to count towards their regulatory debt requirements.

Helaba and OP Corporate Bank each took a plunge into the preferred senior bond market on Tuesday, with spreads in the asset class having outperformed other bank funding products in recent weeks.

Kingsoft Cloud Holdings is looking to raise $450m from its Nasdaq IPO, finalising the listing terms on Monday.

Mainland-based Peijia Medical is set to be the third healthcare company to list in Hong Kong since the coronavirus outbreak in late January, opening books on Tuesday for a HK$2.34bn ($302m) IPO.