DBS

State Bank of India has picked banks for a fresh $500m fundraising that is expected to launch into syndication in the next couple of weeks.

Khazanah Nasional made its inaugural appearance in the dollar sukuk market this week with a $750m transaction. But the landmark trade courted plenty of controversy around its execution and the notes’ subsequent secondary performance.

Khazanah Nasional started taking orders for its first Islamic bond in dollars on Tuesday, while Bank of China’s Hong Kong branch launched bookbuilding for a triple tranche senior dollar deal.

The Asian DCM market did not have an easy 2015 with numerous macro and political headwinds causing a fall in new issuance. While jittery conditions are here to stay, Clifford Lee, head of fixed income for DBS, told GlobalCapital Asia that his business is well positioned to combat the volatility.

State Bank of India is back in the loan market for a fresh $500m fundraising that is expected to launch into syndication in the next couple of weeks.

Singapore’s DBS has released a solid set of financial results for 2015 with both total income and net profits hitting record levels. But while most of its fee-related businesses recorded strong growth, the lender’s investment banking unit saw its income drop by 25%.

Five banks have opened into senior syndication a $455.75m facility that will back Baring Private Equity Asia’s proposed acquisition of Singapore-based Interplex Holdings.

China’s first revolving auto ABS successfully priced this week with SAIC-GMAC Automotive Finance bagging Rmb3bn ($456m) from the landmark Rongteng 2016-1 Retail Auto Mortgage Loan Securitization.

Baring Private Equity Asia has lined up five banks to syndicate a $456m loan that backs its bid for Singapore-based Interplex Holdings.

A $465m 21 month refinancing for Hindustan Petroleum Corp (HPCL) has gone into general syndication after the borrower mandated banks for the loan in December 2015.

Singapore-based wastewater treatment company Hyflux has returned to the loan market for a $300m triple currency refinancing.

A $1.775bn loan for ONGC Videsh, the international arm of India’s Oil and Natural Gas Corp, has attracted commitments from just two lenders in syndication, with the deal due to close by the end of this week.