Banks

Singapore-listed Mapletree Industrial Trust (MIT) has bagged S$201m ($147.9m) after upsizing an overnight unit placement on the back of strong early demand.

Chow Tai Fook has made a quick comeback to the offshore loan market, eyeing a smaller deal after closing a $1.3bn fundraising last March.

The International Development Association is preparing a short-term borrowing programme that the issuer told GlobalCapital will be similar in form to the commercial paper offerings of its peers the European Investment Bank and KfW. A second benchmark — likely to be in sterling or a niche currency — or a debut private medium-term note could follow, the borrower added.

China Tian Lun Gas has closed an oversubscribed loan worth HK$2bn ($255m) after attracting 13 lenders in general syndication.

The Indian government is offloading 50.76m shares in Axis Bank through an offer-for-sale, trimming its stake in the private sector lender as the end of the financial year looms.

Nikko Asset Management said it had hired Richard Kehoe as senior high yield analyst for its global fixed income team in London.

Banks have started marketing the sterling loan to fund the acquisition of a stake in Westbury Street Holdings, the parent company of Searcy’s champagne bars and Benugo coffee bars, with a £363m seven year term loan and a £91m eight year second lien on offer.

The Netherlands Development Finance Company (FMO) and the Bank of England hit screens with dollar mandates on Monday to start what should be a busy week of supply in the currency for public sector borrowers, according to bankers.

The European Financial Stability Facility mandated banks on Monday for a long five year and a tap of its February 2043 bond.

KfW found plenty of appetite in the sterling market on Monday, allowing it to increase its target size during the book build for a tap, before printing an even larger size of £750m. FMS Wertmanagement will add to the sterling supply on Tuesday after picking banks for its second fixed rate benchmark in the currency this year.

The Republic of Latvia hit screens on Monday to announce a 30 year euro benchmark — breathing life back into what has been a rather quiet Central and Eastern European bond market.

The Balearic Islands appointed banks on Monday for its first bond since 2012, just as tensions over Catalan independence return to the forefront of Spanish politics.