UBS

Investors flocked to Hysan Development Co's opportunistic $850m subordinated bond on Tuesday, allowing it to take home a larger deal than expected.

United Hampshire US Real Estate Investment Trust (Reit) has kicked off the roadshow for a $323.6m Singapore IPO on the back of chunky cornerstone investor orders, according to a source familiar with the matter.

Russian Railways is embarking on a roadshow to market the first ever green Swiss franc bond from Russia, even as fears of the spread of the Covid-19 coronavirus continue to infect EM bond trading.

Four Chinese property companies raised $2bn between them from dollar bonds on Monday, coming at a particularly turbulent day for markets globally as fears rise around the rapid spread of Covid-19 outside of the Mainland.

ING was praised for pricing a coupon of 4.875% in what was the only financial institution trade of the week in the euro market. The lender had to brave much tougher market conditions in its second attempt at this bond issue, having pulled its first attempt amid news of its chief executive jumping ship.

Investors flocked to Indian credits on Thursday, as UPL Corp and Muthoot Finance sealed new dollar bonds in a busy market.

Three Chinese issuers visited the dollar bond market on Thursday, raising $1.2bn between them.

UBS has appointed Martin Yule as head of research for Asia Pacific, effective on March 1.

Intense demand in the Swiss franc bond market for any asset with a positive yield — or even anything yielding more than the penal negative rates on cash — gave a varied group of issuers this week execution that pushed the boundaries — bigger, faster and tighter.

ING left its investors bemused on Wednesday, when it decided to pull the additional tier one (AT1) bond it was marketing on the basis of undisclosed information it had received. After the news of its chief executive’s move to UBS quickly became public, the door was left open for the bank to complete the trade.

UBS has made several senior staff in Spain redundant, including Madrid-based DCM managing director Daniel Vazquez Villanueva, GlobalCapital understands. The cuts came as part of a general redundancy round last year, but revenues from the region have been hurt by a hard stop in business from Santander after it decided not to hire former UBS investment banking boss Andrea Orcel as chief executive.

A lack of credible internal candidates and a desire for stability across its divisions led UBS to cast the net wider to find a successor to chief executive Sergio Ermotti. It has appointed ING CEO Ralph Hamers.