insto - Australian financial markets

UBS has dominated this category at the Insto Awards over the years and despite strong support for some rivals in the Awards voting the bank is once again a deserving winner.

The bank’s depth across equities, investment banking and fixed income deliver a compelling ‘whole bank’ offering to its clients, backed up by some of the strongest execution skills in the Australian market.

2009. Three consecutive rate rises, record deal volumes, diverse issuers, and significant credit spreads. We saw the debut of government guaranteed issuance and semi-government syndicated transactions. We saw true corporate bonds and the rediscovery of retail funding channel. Australia proved that it can have a ferocious and healthy bond market, Sonia Han reports.

Former UBS fixed income head joins CommBank: CBA has appointed Simon Maidment, former UBS head of fixed income, as head of group funding and execution, financial services, based in Sydney. Maidment, who is to commence his role in early February, will report directly to Lyn Cobley, group treasurer. He worked for UBS for 17 years, and resigned in 2008 from heading up the bank's fixed income operations. He was replaced at UBS by Grant Lovett.

September wasn’t a good month for New Zealand’s economy with employment falling significantly during the September quarter, printing at 6.5 per cent.

The third quarter’s employment decrease, according to a Household Labour Force Survey (HLFS), was driven by a decrease in full time male employment, and partly offset by an increase in female work. Actual weekly working hours decreased by 0.7 per cent (down 3.1 per cent y/y).

Asian Development Bank, rated AAA/Aaa/AAA has priced a A$375 million five year Kangaroo bond issue at 75 basis points over swap. UBS was the lead manager on the bond issue.

After weeks of speculation over its financial position, Stella Group late last week announced it had reached an agreement to restructure its debt facility with its Swiss funder UBS.

St George has priced a A$50 million tap on its 2011 deal, taking the outstanding total to A$950 million.

The increase was the first tap on this transaction and was issued due to reverse inquiry.

The sole lead manager on the deal was UBS.

*** NAB issues A$1.6 billion (19 May 2008) ***
National Australia Bank last week issued a two tranche fixed and floating rate transaction. The five year deal was self led with RBC and UBS acting as co-managers.

The last domestic deal done with a similar size of A$1.5 billion was last month when ANZ issued a fixed and floating rate, five year transferable deposits.

National Australia Bank, rated AA/Aa1/AA, has issued a senior EUR1 billion fixed rate issue, maturing on 4 March 2011 via lead managers Citi and UBS Investment Bank.

Paladin Energy Ltd has completed the first convertible bond issue in the market for 2008 – a US$325 million issue of 5% convertible bonds due March 11, 2013.

Citigroup Global Markets and UBS acted as joint lead bookrunners and joint lead managers. UBS also acted as sole global co-ordinator.

The proceeds from the convertible bond issue, which was priced on 20 February, will be utilised to fund further growth for the uranium producer.