Asia Pacific

Singapore-based agriculture company Olam International is tapping shareholders through a rights issue, to raise S$601.7m ($447.2m) to repay debt from a recent acquisition.

China’s Tongyi Lubricant, which is backed by private equity firm Carlyle Group, has tapped three Taiwanese banks to help it raise $110m from the loan market for a dividend recapitalisation.

Dingdong (Cayman), a Chinese e-commerce company for fresh groceries, and its rival Missfresh are testing investor appetite at the same time for their US IPOs.

The Export-Import Bank of Korea (Kexim) sold the first public 20 year dollar bond from a FIG issuer from the country this week — potentially paving the way for other borrowers to also opt for the same tenor. Morgan Davis reports.

Indian software services provider Coforge, previously known as NIIT Technologies, is seeking a loan to fund a dividend recapitalisation, joining a growing list of companies raising debt to pay a special dividend to shareholders.

ANZ has appointed Niro Somasekeran as head of corporate finance for south and southeast Asia.

The green dim sum bond market saw a small jump in action on Tuesday, with high yield issuer Zhenro Properties Group selling a short-dated deal and German development bank KfW reopening one of its existing notes.

RHB Bank enticed investors with a rare bond from Malaysia’s banking sector, drawing in more than twice the demand for a $500m deal.

BoCom International Holdings Co leaned on a hefty syndicate team to lock up a $500m five year bond on Tuesday.

Singaporean logistics company GLP used a subordinated perpetual bond structure to raise $300m of green funds this week.

China’s Full Truck Alliance (FTA), billed as an Uber-style service for trucks, has raised $1.56bn from its New York IPO. A wave of global demand pushed final pricing to the top of the guidance, said a banker close to the deal.

The recent round of M&A and leveraged buyout financing provided by Chinese banks shows their growing ambition in the more complicated and riskier part of Asia’s loan market.