DBS

China Hongqiao Group is in the market for a $700m three year loan that was opened for syndication this week via seven bookrunners, according to bankers working on the deal.

Singapore's DBS is looking to expand its covered bond investor base and has now set its sights on an Australian dollar offering.

Mitra Pinasthika Mustika Finance is poised to launch a $100m borrowing into syndication next week, with the Indonesian firm having mandated a trio of banks to arrange the deal.

The Singapore dollar bond market has been dominated by financial and corporate subordinated debt in recent weeks with transactions worth S$2.64bn ($1.9bn) sold since the start of May. While the swap driven nature of the demand means issuance will be patchy, bankers believe this trend could run for some time, writes Rev Hui.

Canada’s Manulife Financial Corp and Singapore’s Mapletree Logistics Trust have added their names to the growing list of issuers accessing the Singapore dollar market for subordinated debt. And thanks to the comeback of private banks in the country, more issuers — both foreign and local — are expected to follow suit, reckon syndicate bankers.

Bhira Investments, a unit of India’s Tata Power, has wrapped up allocations for its $460m refinancing following a bumper response in syndication, with 19 banks getting a slice of the trade.

The Singapore dollar bond market’s recent resurgence of private bank demand has prompted a slew of subordinated debt issuance with Manulife Financial Corp launching a rare insurance tier two and Mapletree Logistics Trust opting for a perp non call five and a half on Monday.

BOC Aviation has already covered books for its HK$8.7bn ($1.1bn) IPO, having started the roadshow on Monday morning, said a source familiar with the matter.

DBS has seen one departure each in its loans teams in Singapore and Hong Kong, according to sources.

Commodities trader Noble Group has wrapped up a $1bn committed unsecured revolver with 25 banks joining the transaction, alongside a $2bn revolving borrowing base facility.

Three banks have seen changes to their loan syndication teams in Asia following departures and internal moves.

Tissue paper maker Youyuan International is tapping the loan market for a $120m 3.5 year facility, marking its return after a gap of two years.