Asia Pacific

ECM activity in Asia has slowed to a trickle in the week before Christmas, but investors still have something to chew on courtesy of two real estate investment trusts in southeast Asia.

Huarong International Financial Holdings is reaching out to shareholders for funds, with a rights issue targeting HK$658.4m ($84.8m).

Chinese property developer Fantasia Holdings Group added $100m to its existing five non call three notes with a tap on Tuesday, reaching its goal to raise $500m from the dollar debt market this year.

A subsidiary of Malaysian telecommunications company Axiata Group has expanded the bookrunner group of a $400m loan, which was overhauled and boosted from the original $100m in November.

The Singapore Exchange has received certification that its kilobar gold futures contract is now Shariah-compliant.

Volvo Cars, the Swedish car company owned by Zhejiang Geely Holding of China, has raised Skr5bn ($530m) in a private placement of preference shares, which might be converted to listed shares if Volvo completes an IPO.

CT Corp company Trans Retail is in discussions with several banks for a financing of $550m-$750m. The Indonesian borrower is yet to firm up the size of the facility, as it is still chalking out its capital expenditure plans.

Chinese property developer Fantasia Holdings Group is looking to raise up to $100m from a tap of its existing notes, opening the deal on Tuesday morning.

Shui On Development Holding has increased the size of its fundraising to the equivalent of about $550m from $300m, following an oversubscription from 15 banks.

School textbook publisher S Chand and Co has submitted a listing application to the Indian regulator, offering new as well as secondary equity.

Hong Kong-listed cigarette package printer Amvig Holdings is in the market for a HK$1.6bn ($206m) equivalent dual currency loan to refinance debt. The company will pay banks a fixed rate of interest for the renminbi portion of the deal.

Bank of Jinzhou bagged HK$7.5bn ($970m) from investors last Friday, completing an H-share private placement it had announced back in March.