Asia Pacific

Swissport, the aviation services group, this week launched a €325m add-on to its euro leveraged loan to finance its acquisition of Aerocare, a peer based in Australia.

DBS Group announced a mandate on Wednesday for a euro tier two deal. It is thought a transaction would be its first in euros outside of covered bonds, and it would be the first unsecured trade from a Singaporean financial institution in euros in more than 10 years.

Hungary has priced its first Japanese yen deal in over a decade, achieving its lowest ever funding cost, as its love affair with Asian currencies for diversification continues.

Weak sentiment among investors for duration risk meant Chinese local government financing vehicle Qingdao China Prosperity State-owned Capital Operation (Group) Co sold a larger three year bond than a five year, finding support due to the buy-side’s familiarity with its city.

Singapore-listed OUE tapped the markets on Tuesday with a pair of five year equity-linked bonds, one convertible into its shares and the other exchangeable into stapled securities of OUE Hospitality Trust.

Greenland Holding Group Company has joined a slew of Chinese property developers issuing offshore renminbi bonds, but it left something on the table for investors to achieve a relatively large size of Rmb1.5bn ($237m).

A unit of Puma Energy is in the loan market, seeking $1.1bn across three tranches, according to a banker who received the invitation.

Payments service provider Huifu Payment is looking for the green light to list in Hong Kong, having filed a draft prospectus with the city’s bourse on Tuesday.

China’s Tianjin Rail Transit Group Co (TRT) and Chengdu Xingcheng Investment Group Co both dipped into the euro market on Tuesday, with the former printing a green bond.

The US Federal Reserve has admonished Industrial and Commercial Bank of China for falling foul of anti-money laundering rules, saying the lender failed to properly report suspicious activity at its New York branch.

Malaysian conglomerate UMW Holdings is planning a MR1.1bn ($282m) rights issue, as it raises funds for the acquisition of automotive company MBM Resources.

In the fourth and final part of a series of articles on China’s financial transformation, GlobalRMB looks at the commodity trading markets. From the launch of a new energy exchange to the increasing domestic trading of crude oil, gold and iron contracts, the wheels are already in motion for major change.