Credit Suisse

Shui On Development raised $500m via a bond sale as the borrower continues a year-long liability management exercise.

[First published 06.15, November 17, 2014. Updated with the final price.] Shui On Development came back to the dollar bond market on Monday in what has been a busy year for the borrower. The Chinese developer has made multiple outings in 2014 as part of a liability management exercise.

Investors should look at buying call spreads on the euro against the Swiss franc following a recent spike in volatility on the pair, which has driven spot down to 1.20 – the lowest level since 2012, according to strategists at Credit Suisse.

A flood of financial institution bond issuance this week concluded on Friday with a brace of tier two deals, from Standard Chartered and Italy’s Generali.

Apax and Bain Capital made their move for Portugal Telecom’s Portuguese assets this week, but rival bidder Altice is more than ready for its challenger, having signed the banks behind its bid on an exclusive basis some weeks ago.

The syndication for Swiss bathroom fixtures maker Geberit’s Sfr1.29bn (€1.07bn) loan to buy Sanitec of Finland will be allocated next week, said a banker on the deal.

Lloyds took centre stage in the senior unsecured FIG market this week, drawing an order book of around €7bn for a seven year bond, as it made the most of the noise surrounding regulators' plans to implement a total loss absorbing capital (TLAC) measure.

Swiss franc investors took advantage of a rare opportunity to buy Norwegian senior unsecured financial paper this week when Sparebanken Nord-Norge made its debut in the currency.

Singapore’s Keppel Telecommunications & Transportation started pre-marketing the S$505.4m ($392m) IPO of its real estate investment trust on Tuesday, November 11, with bookbuilding tentatively scheduled for the end of the month.

The syndication for Swiss bathroom fixtures maker Geberit’s Sfr1.29bn (€1.07bn) loan to buy Sanitec of Finland will be allocated next week, said a banker on the deal.

British oil and gas company BG Group issued €775m eight and €800m 15 year bonds on Wednesday, in a week of strong issuance of European investment grade corporate bonds.

Alliance Automotive has issued a two tranche bond to fund the French-UK car parts distributor’s buyout in August by Blackstone and the company's founders from Weinberg Capital Partners.