UBS

US-property backed Eagle Hospitality Trust has begun bookbuilding for its Singapore listing, looking to float for a market capitalisation of up to S$957.4m ($703m).

UBS investment bank’s profit before tax fell by more than half in the first quarter of 2018, with year-on-year declines in almost all divisions, the Swiss institution revealed on Thursday.

Logicor’s dual tranche issuance received a mixed reception on Thursday, as the European real estate and logistics company reopened an old note and offered investors a new bond as well.

ARA Group has begun bookbuilding for its ARA US Hospitality Trust (ARA US) listing on the Singapore Stock Exchange. The deal represents the spin-off of US-based Hyatt branded hotels.

Xinyuan Real Estate Co tapped its existing 2021 notes on Wednesday, adding $100m to the bonds.

Eagle Hospitality Trust is preparing to launch the roadshow for its up to $600m Singapore IPO on Friday, according to a source familiar with the matter.

Redco Properties Group returned to the market with a two year note on Tuesday, three months after it priced a larger 364-day transaction.

The US’s Reality Income is planning a £300m bond sale to part finance its acquisition of 12 properties in the UK linked to grocer J Sainsbury’s.

Three Chinese property companies courted high yield dollar investors on Wednesday, raising a combined $827m.

Raiffeisen Switzerland chalked up a notable first for Swiss francs on Monday when it priced the market’s inaugural sustainable bond. Endorsed by a second-party opinion from ISS-Oekom, the Sfr100m ($99m) five year issue was priced at mid-swaps plus 43bp, for a yield to maturity of 0.06%.

SMC Global Power Holdings Corp (SMCGP) sold a rare perpetual bond on Tuesday, proving that investors still like the format and the rarity of a Philippines credit.

Despite the very attractive conditions in Europe's corporate bond market in recent weeks, some less regular issuers have missed out on them because they were scared off by the rough markets at the beginning of the year.