DBS

Asiamoney is pleased to present its choices for Asia’s Best Managed Companies 2015. The winners were the firms that impressed us the most through a combination of factors including innovation, financial performance and strategic execution, and after also surveying the views of regional analysts and investors. Our congratulations to all those chosen.

Indian conglomerate Reliance Industries has picked a big group of banks for refinancing a $1.5bn loan raised three years ago.

Commodities trader Mercuria is back in the market for its annual refinancing, launching a $900m triple tranche revolver into general syndication late last week.

Indonesian car rental service provider, Indorent, has picked four banks to helm a $100m offshore loan with general syndication expected after mid-October.

More details have emerged on a request for proposals (RFP) sent by Bharat PetroResources International (BPRL), which is seeking a new $650m loan.

A $125m loan for Bharat PetroResources International (BPRL), a subsidiary of Bharat Petroleum Corp (BPCL), has launched into targeted syndication.

Chinese property developer Gemdale Corp is in the market to buy back $500m worth of bonds as the company seeks to optimise its capital structure.

The trading arm of China’s Tewoo Group is raising a $100m two year onshore loan, with the amortiser offering banks an additional incentive for early commitments.

China Securities (International) Finance Holding Company has opened books for its debut offshore bond, while Qingdao City Construction Investment (QCCI) is planning to issue a senior perp for its second international outing this year.

Auto finance companies are taking the Chinese ABS market by storm this year with SAIC-GMAC adding to the surging volumes with a Rmb3bn ($471m) transaction this week. Even though pricing came just slightly above the middle of guidance, bankers on the trade said it was a level the company was more than happy to take.

Philippines’ Petron Corp, which recently amended covenants on a 2014 borrowing, has hit the market for a $550m refinancing that was funded in July.

The China foreign exchange trade system (CFETS) published a list of the first institutions to be granted access to the Chinese interbank bond market (CIBM) since a streamlined programme was introduced in July.