Asean
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The issuance of two currency-linked notes on the private market should help stimulate local currency markets in Myanmar and Ukraine according to one syndicate banker. -
Singapore’s Frasers Property has closed a S$785m ($581m) green loan, the second green borrowing in six months.
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Private equity firm Warburg Pincus has raised D2.33tr ($100.9m) after increasing a block sale of Vincom Retail shares.
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Keppel Infrastructure Trust (KIT) has raised S$500.8m ($369.8m) after more than doubling the size of an equity fundraising and trimming a concurrent private placement.
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In this round up, sluggish economic data indicates growth headwinds, the Philippines eyes a Panda bond in April and USD/CNH futures trading volumes on the Singapore Exchange (SGX) hits record level.
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The Monetary Authority of Singapore (MAS) is considering making covered bonds eligible for repo, but Singapore dollar issuance would probably be needed, delegates at the Euromoney/ECBC Asian Covered Bond Forum heard this week. Domestic currency issuance would improve the resilience of Singapore’s banking system and potentially encourage other banks to set up programmes.
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United Overseas Bank (UOB) became the first Singaporean issuer to sell a Panda bond this week, raising Rmb2bn ($298m) from a three year deal. Rebecca Feng reports.
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United Overseas Bank has made its first appearance in the Panda bond market, selling a Rmb2bn ($297.8m) three year deal.
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Bank of the Lao PDR has closed its four year borrowing led by Cathay United Bank, receiving commitments from 14 participants.
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GLP has closed a Rmb3.3bn ($490m) nine year Panda bond, after scrapping an earlier plan to sell a dual-tranche deal.
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Private equity firm Platinum Equity is about to close the senior syndication for a $165m borrowing to support its acquisition of Singapore’s PCI.
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Indonesian real estate developer Lippo Karawaci is on track to raise $730m from a rights issue as part of a $1.01bn funding programme that it hopes will strengthen its balance sheet, boost liquidity and enable investment in its existing projects.
