UBS

Dufry, the Swiss travel retail operator, is assessing which capital markets to use to finance its €3.6bn cash acquisition of World Duty Free, announced this morning.

Standard Chartered has successfully sold its first AT1 bond though a less investor-friendly structure meant it was forced to pay up compared to a recent deal from rival HSBC. But investors were undeterred as the bond managed to attract a $22bn order book – the largest ever for a single tranche AT1 bond, say bankers.

Singaporean investment holding company Gallant Venture made its second outing in the Singapore dollar market this year, raised S$175m ($127.8m) from a three year bond offering on March 26 following a January appearance.

UBS made an eye-catching swoop on the dollar market, but a flurry of issuance by European FIG borrowers failed to rescue a lacklustre first quarter.

HSBC's additional tier one bond, sold this week, included a feature that helps insulate issuers from secondary market volatility, and which bankers say is destined to become broadly used in the asset class, writes Graham Bippart.

Gategroup, the Swiss airline services provider, has signed a €240m revolving credit facility that it will use to replace an older revolver and partially redeem a bond.

Diesel engine component maker Asimco is said to have revised terms for its $120m refinancing loan, providing banks with more security and changing the loan purpose to allow lenders to get through their credit process more easily.

Fuyao Glass Industry Group Co priced Hong Kong’s biggest IPO so far this year at the top of its price range to raise HK$7.39bn ($951.67m). Buoyed by its discounted valuation, retail and institutional investors gobbled up shares in the glassmaker.

Standard Chartered started taking orders from investors for its first ever additional tier one (AT1) bond on Thursday, having gauged investor sentiment in Asia, Europe and US earlier in the week.

Market Tech Holdings, the company that owns London’s Camden Markets and floated for £100m on Aim in December, raised £112.5m to finance recent acquisitions on Tuesday, with a convertible bond.

The leads on Fuyao Glass Industry Group Co’s HK$7.39bn ($951.67m) IPO are guiding investors to the top of its HK$14.80-HK$16.80 marketing range, amid solid demand for its shares and a book that is now multiple times covered.

A senior structured credit banker has left UBS's investment bank in London.