DBS

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.

Asia’s debt capital market is set for a busy start to the year with both repeat and debut issuers looking to sell dollar offerings as early as this week.

A $305m three year borrowing for Tata Power's subsidiary, Khopoli Investments, has received commitments from two banks, having been in general syndication since September.

A $200m equivalent borrowing for Yue Xiu Enterprises has been launched into syndication with one bank at the helm.

Tata Motors has allocated its $600m dual-tranche refinancing among a group of 36 banks. The company split the amount evenly between a five year and a seven year despite the longer tenor seeing a higher volume of commitments.

Invitations are out for a $200m-equivalent borrowing by Yue Xiu Enterprises (Holdings), a company owned by the Guangzhou government.

State-owned refiner Bharat Petroleum Corp has sent out a request for proposals for a $200m deal, coming to the market eight months after it cancelled a loan in favour of a bond.

The Singapore Exchange is closing the year on a positive note thanks to BHG Retail Reit, which this week raised S$255.8m ($181m) from the country’s first and only mainboard IPO of the year.

India’s Reliance Industries has selected a group of 13 lenders for a $1bn loan that will refinance a borrowing raised in 2010.

The Singapore Exchange is closing the year with some hope thanks to BHG Retail Real Estate Investment Trust (Reit), which has raised S$255.8m ($181m) from the country’s first mainboard IPO of the year.