DBS

A $465m 21 month refinancing for Hindustan Petroleum Corp (HPCL) has received one commitment since its launch into syndication in mid February.

Singapore-based wastewater treatment company Hyflux has cut the size of its loan to $224m after failing to muster enough demand.

Hong Kong-based commodities trader Noble Group is back in the market for a $1bn loan to refinance outstanding debt. But the company is paying up dearly for the fundraising as it battles scepticism around its sector and the state of its financials. Shruti Chaturvedi reports.

Singapore’s PSA International braved a crowded market on Tuesday to make a return to dollar bonds after a six year absence. The rarity of the name worked in the issuer’s favour, allowing it to meet its key pricing objective.

OUE Hospitality Trust’s S$238.6m ($175.7m) rights issue has been a big success, with shareholders signing up for 1.4x the shares on offer, according to a company filing.

Singapore’s PSA International broke its six year absence from the bond market in style on Tuesday, raising $500m in a deal that met its objective of pricing inside the curve of the closest comparable.

Loss-making commodities trader Noble Group has launched a richly priced $1bn one year refinancing into general syndication.

Olam International returned to the international bond market on Tuesday after an absence of nearly two years with a popular $300m trade that drew good participation from private banks and institutional accounts.

Commodities trader Gunvor Singapore, which had been talking to banks since February about refinancing debt, has launched its latest $750m borrowing.

Chinese red-chip Sino Grandness Food Industry Group is planning to spin off its subsidiary Garden Fresh Group Holding via a float on the Hong Kong Stock Exchange.

Petronas' subsidiary Malaysia International Shipping Corp is in the process of putting together a club of banks to supply a $1bn bridge loan.

The Asia DCM market opened to a slew of issuance on Tuesday with Singapore duo Olam International and PSA International, Korea National Oil Corp and Japanese lender Mizuho Financial Group looking to tie up their respective dollar transactions.