DBS

China’s reported intention to introduce a Tobin tax on foreign exchange transactions has provoked a somewhat typical rush of condemnation. However, some analysts are already pointing out that pros and cons might indeed balance each other out.

Indian Oil Corp and Bharat Petroleum Corp have launched their respective borrowings, worth a collective $580m, into general syndication. Both are offering the same base margin, but the latter is being generous with its all-ins for new banks.

Manulife US Real Estate Investment Trust (Reit) has rejigged the syndicate for its planned $400m IPO in Singapore, with JP Morgan no longer among the banks working on the deal.

Hutchison China MediTech’s (Chi-Med) $100m IPO on the Nasdaq has been oversubscribed three days into bookbuilding, according to sources close to the transaction.

A $250m five year loan for Indian Oil Corp (IOC) has opened for retail participation after two banks joined during limited syndication.

Singapore’s OUE Hospitality Trust is carrying out an underwritten and renounceable rights issue worth S$238.6m ($171.4m) as it seeks to raise funds for an airport hotel purchase.

Singapore real estate firm Ascendas ventured into the country’s domestic bond market on Monday with a S$100m ($72.8m) offering that was largely driven by reverse enquiry.

Ford Motor Credit Company made its debut in the Singapore dollar bond market this week with a S$350m ($251m) transaction that investors were more than happy to put their money into.

A $460m refinancing for Tata Power subsidiary Bhira Investments has opened into syndication with seven banks at the helm.

Australian utility firm AusNet Services diversified its funding options this week with its first outing in Singapore dollars, printing a S$200m ($142m) hybrid.

The financial services arm of US automaker Ford has picked two banks to arrange a potential bond denominated in Singapore dollars.

Australian energy firm AusNet Services started attracting bids for a 60 non-call 5.5 year subordinated offering on Monday. The hybrid issuance is denominated in Singapore dollars and marks the company’s first outing in the currency.