DBS

Singapore's Housing Development Board returned to the domestic market last week, raising S$1bn ($700m) from a deal that showcased the issuer’s strong credentials among Singapore dollar bond investors.

Tata Power subsidiary Bhira Investments, which has picked six lenders to arrange a refinancing of a $460m facility, is stretching the tenor of the new loan to five years.

Four banks have rolled out a S$1.75bn ($1.22bn) five year financing for a subsidiary of Singapore’s Universal Terminal.

South Korea’s Kookmin Bank has selected four banks to run a potential return to the covered bond market, but a source at the issuer said that due to unfavourable market conditions, there’s a possibility that the deal will not materialise.

Taiwanese conglomerate Formosa Plastics Group has launched a $2.5bn dual tranche loan into syndication.

China Nonferrous Metal Mining and Vista Land & Lifescapes are meeting investors ahead of their respective dollar offerings, while Hangzhou Hikvision Digital Technology is set to gauge interest in Europe for a euro-denominated deal.

Indonesian car rental service provider Indorent has raised $100m from its debut international syndicated loan. The borrowing came with a greenshoe of $50m, which was not exercised.

A $200m equivalent borrowing for Yue Xiu Enterprises has seen commitments worth $300m come in from banks that will avail an extra fee for chipping in ahead of an early bird deadline.

A $2.5bn loan for Taiwanese major Formosa Plastics Group launched into general syndication last week, with a big chunk to be used to finance projects in Vietnam.

Jiangsu NewHeadLine (NHL) broke new ground this week, selling the first high yield bond from a local government financing vehicle. Market participants expect this to be the first of many to come, as the asset class offers both a government link and a yield pick-up over investment grade counterparts.

Manulife US Real Estate Investment Trust (Reit) is reviving its plans to list in Singapore after shelving an IPO in 2015, and is aiming to launch in the first half of this year, according to a source close to the deal.

Chongqing Red Dragonfly Oil is seeking an onshore loan of up to $200m as it looks to forge relationships with foreign lenders in mainland China.