UBS

Unione di Banche Italiane was close to 14 times subscribed for a €400m additional tier one (AT1) in the euro market on Monday, as it capitalised on expectations of scarce supply in the asset class. The debut deal means the bank will become the fourth Italian issuer of AT1 capital.

Private Russian bank Credit Bank of Moscow announced a roadshow on Monday, mandating banks for the sale of a benchmark five year dollar deal.

UBS is ramping up collaboration between its investment bank and its wealth management unit, as it seeks to find more revenue opportunities from its client base of wealthy individuals and family offices.

Seven Chinese real estate issuers followed five of their peers to the offshore debt market on Tuesday, marking the busiest start to the year for the Asian bond market.

Chinese e-commerce giant JD.com has returned to the dollar bond market for the first time since 2016 for $1bn, pushing out its maturity profile and pricing the deal at levels comparable to some of its much higher rated peers. Addison Gong reports.

Issuers rushed to open the euro covered bond market this week. Trades from ABN Amro, Erste Group and LBBW showed that investors are ready to put cash to work, but higher new issue premiums suggested that issuers were taking a 'conservative' approach at the beginning of the year.

A number of Chinese real estate companies kicked off their refinancing for 2020 on Monday, with higher rated issuers tapping longer-dated bonds and the weaker names actively engaging in liability management.

The success of Indian gold financing firm Muthoot Finance’s debut dollar bond sale in 2019 spurred gold loan provider Manappuram Finance to seek funds from the international debt market on Monday.

Asian bond issuers went full speed ahead with their fundraising plans on Monday, launching new deals ahead of Chinese New Year holidays at the end of the month.

Blackstone-backed Mindspace Business Parks Real Estate Investment Trust (Reit) is preparing an IPO of new and existing stock, set to be just the second listing from the asset class in India.

Shares in Schmolz + Bickenbach, the Swiss steel maker, surged 9% on Friday after the company said it is due to price its Sfr325m rights offer at Sfr0.30, the top of the range, securing its future after a long period of underperformance.

Big European investment banks pivoted towards the Americas during 2019 in an attempt to boost revenues and position themselves for the next downturn, writes David Rothnie. With large M&A across the industry still off the table, banks are finding scale through joint ventures and alliances.