Asean

HSBC Holdings took advantage of an open window for issuance in the Singapore dollar bond market, raising S$750m ($546m) from a Basel III-compliant additional tier one deal on Monday. But potential issuers still looking to tap the currency may need to adjust their expectations.

The Philippines’ Security Bank Corp offered a decent premium over its domestic peer to woo investors to its $300m bond offering on Monday.

China Construction Bank raised S$300m ($219m) through its Singapore branch on Thursday, opting for a two year tenor to offset rising funding costs since its debut in the currency last year.

An extensive global roadshow paid off for Bangkok Bank’s dual-tranche $1.2bn outing on Wednesday, with a strong turnout from accounts in the US as well as Asia.

Emerging market investors are on edge, and rightfully so, as Turkey, Argentina and South Africa face up to serious economic problems. In Asia, that has triggered outflows — and risk aversion — from Indonesia, which is in a much stronger shape than its peers. But the volatility presents an opportune time to scrutinise the south-east Asian country closely.

Kelvin Lim, a director of loan syndicate and sales of Citi, has left the bank, according to a source close to the move.

Commerzbank has ended a 10-month drought in Singapore dollar-denominated tier two deals, returning this week with a S$400m ($290m) bond. What lies ahead for the southeast Asian city-state’s local currency market? Addison Gong finds out.

OUE Commercial Real Estate Investment Trust will partly fund an acquisition from its sponsor through a S$587.5m ($427.2m) rights issue.

August was generally a healthy month for many global derivatives exchanges, though performance was not quite consistent across the industry.

Weak emerging market investor sentiment is dragging on Indonesian high yield bonds, with market watchers blaming the dive on a spill-over effect from other emerging markets. But there are still some silver linings for the island nation.

Indonesian motorcycle financing firm Federal International Finance (FIF) has returned to the offshore loan market for a $200m borrowing.

Ascendas Real Estate Investment Trust tapped equity investors for S$452.1m ($328.6m) with a follow-on offering on Thursday, its first visit to the market in over two years.