UBS

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.

A surge in shareholder activism is providing banks with a lucrative new source of revenue, but they have to tread carefully or risk losing treasured corporate relationships, writes David Rothnie.

UBS has reorganised its debt capital markets business, following the decision of global head Amir Hoveyda to step down from his role. It will merge leveraged finance and DCM, with David Slade heading the combined group in EMEA.

Nexi, the Italian payments company, has fallen by almost 8% on its first day of trading after its Milan IPO last week. High volume selling at the beginning of the day has hurt the stock.