DBS

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.

Chongqing Red Dragonfly Oil has raised a $126m onshore loan with a group of seven lenders joining in syndication.

Indonesian television broadcaster MNC Sky Vision is back in the loan market for a $275m borrowing with two lenders at the top. The company was recently slammed by a credit rating downgrade because of rising leverage and weakening performance.

Taiwanese conglomerate Formosa Plastics Group has increased the size of its latest borrowing to $3.5bn from $2.5bn.

Dutch lender ABN Amro returned to the Singapore dollar bond market for the first time since 2012, raising S$450m ($331m) with a tier two offering.

State Bank of India launched its $500m fundraising into general syndication on Tuesday via eight mandated lead arrangers and bookrunners.

Asia's debt market was crowded on Wednesday with three issuers on the hunt for their respective fundraisings ahead of the Easter holiday.

Indonesia Eximbank, which had been talking to lenders for the past few weeks for a $500m refinancing, has zeroed in on a group of eight lenders for the new club deal.

Syndication has closed for a $975m refinancing for India’s Reliance Industries, with four new lenders coming in.

ABN Amro is set to launch its second Basel III tier two trade in as many weeks and this time is opting for a Singapore dollar-denominated transaction.