Asean

Lippo Karawaci navigated a crowded primary bond market on Wednesday to add $260m to its 2022s with a tap. The success of the deal reflects a big improvement in market sentiment compared with the early part of the year, when the Indonesian developer failed to pull off an exchange offer.

Primary bond activity in Asia sprang back to life on Wednesday following a slow start to the week, with high yield issuance leading the way.

Philippine company Aboitiz Equity Ventures jumped at a chance to sell a Ps4.7bn ($100.0m) block of shares on Tuesday, taking advantage of a share price that is up nearly 30% year-to-date.

Ascendas Real Estate Investment Trust’s S$155m ($114m) overnight share sale proved to be hot property as the deal was six times covered and was priced at the top of its expected range — at a mere 1% discount.

Singapore-listed Ezion Holdings has wrapped up a rights issue of nearly 500m new shares, raising S$141.3m ($105.3m).

The Employees Provident Fund (EPF) of Malaysia is making a rapid return to the loan market, mandating two lenders for a £240m ($317m) new money trade.

Singapore’s Ascendas Real Estate Investment Trust has launched an accelerated bookbuild of new units worth up to S$155m ($114m) to fund acquisitions in Australia and for its local projects.

Joseph Chee will head UBS’s Asia investment banking unit after co-head Saurabh Beniwal leaves at the end of the year, according to sources close to the move.

Mapletree Commercial Trust raised the roof with its S$1.04bn ($766.01m) overnight block-plus-rights combo this week, in a deal that earned praise from bankers on and away from the transaction. The placement tranche now ranks as the largest by a Singapore real estate investment trust, and could pave the way for more Reit-related fundraisings. John Loh reports.

Singapore’s DBS Bank has made headlines for a series of high profile changes this week, including its decision to establish a securities business in Japan.

Mapletree Commercial Trust priced an overnight block-plus-rights combo on Tuesday to raise S$1.04bn ($766.01m), in a deal that earned praise from bankers on and away for its slick execution.

Veteran DBS banker Boey Yin Chong is moving to a new position at the Singaporean lender after a 15-year spell helming the syndicated finance team.