UBS

UBS has hired Fan Yang from China Merchants Securities International as chairman of global banking for Asia, a newly created position at the Swiss firm.

Switzerland’s Firmenich and Australia’s APA Group have mandated banks to arrange fixed income investor meetings, with both companies looking to recapture the magic of compatriot issuers in recent weeks.

The Export-Import Bank of Korea jumped on the floating rate note bandwagon on Monday, raising $700m from the market. It also added a euro tranche with a green label to its transaction.

Sino Biopharmaceutical’s shares tumbled about 8% on Tuesday after its chief executive officer, Tse Ping, sold a portion of his stake in the company for HK$2.27bn ($292.9m).

BPCE seized an opportunity to launch €1.5bn of preferred senior funding this week — an asset class that has outperformed all other bank funding products in the market in recent trading sessions.

Henri Mills has been made UBS's first head of global markets distribution for France, the Benelux and Nordic regions.

Kingsoft Cloud Holdings has launched a virtual pre-deal investor education process for its $100m Nasdaq IPO, according to a source close to the deal.

UBS has made Paul Mahony head of corporate debt capital markets and derivatives for Europe, the Middle East and Africa, following on from Barry Donlon’s appointment as head of DCM for the region.

High quality Yankee issuers showed their spirit of adventure by printing front-end trades this week, returning to a part of the curve that has been starved of supply since the start of the coronavirus crisis.

German chemicals and consumer goods firm Henkel cleaned up in Swissies after a 24 year absence this week, while local company SGS ventured out further along the maturity curve.

BNP Paribas and Crédit Agricole enjoyed the best of conditions as they reopened the market for non-preferred senior bonds from eurozone banks this week, but Société Générale ran into market turbulence when it emerged a day later. Bankers said that showed that demand for the instrument remains limited.

Société Générale continued the streak of French bail-in bond issuance on Wednesday but had to pay a higher new issue premium compared to its compatriots.