DBS

Jiangxi Jiangling Chassis Co’s IPO on the Singapore Exchange (SGX) is off the table, with the S$49m ($35m) transaction falling victim to the global sell-off in equity markets that took hold last week and saw investors running for the hills on all things China.

Kingboard Chemical Holdings has increased its borrowing to HK$6bn ($773m) from a launch size of HK$5bn, after 18 banks came on board during general syndication.

It has only been underway for one year, but the Chinese auto ABS market has already raced ahead with volumes surging. A new deal from SAIC-GMAC Automotive Finance has now appeared with the company looking to securitize Rmb3bn ($469m) worth of auto loans next month.

Tianjian state-owned Tianfang Hospitality Reit, which is looking to list in Singapore, is delaying its $200m-$250m IPO amid the current rocky market conditions and the deadly explosions in Tianjin port, said sources.

Tata Power's subsidiary Khopoli Investments is making a quick return to the loan market, mandating six lenders to arrange a $300m refinancing.

DBS is just three years younger than Singapore, which celebrates its 50th anniversary this year. The bank's steady rise has mirrored that of the city-state, but chief executive Piyush Gupta is hoping it is now positioned to seize the opportunities of a fast-growing region better than its competitors. Mark Baker reports.

Jiangxi Jiangling Chassis Co has opened books on Singapore’s first Mainboard IPO of the year, launching an S$49m ($35m) deal on Thursday. But with Chinese shares teetering on the edge this week, bankers are foreseeing a bumpy ride during bookbuilding.

International Container Terminal Services (ICTSI) provided a breath of fresh air to Asia’s bond market with its $450m perpetual deal. The lack of issuance this year from Philippine borrowers worked in the company’s favour, but SMC Global Power Holdings Corp’s quick follow-up had to endure a turn of sentiment in the market.

Trio to arrange $500m for SBI — NewOcean Energy returns for $170m — China duo clinch $1.1bn Wuxi take-private loan — Tiphone out for $184m — Kingboard to increase from HK$5bn

The two leads on Yuexiu Real Estate Investment Trust’s (Reit) financing for its acquisition of Hongjia Tower in Shanghai are inviting lenders to join the syndicate.

Oversea-Chinese Banking Corporation has priced a S$500m ($356m) perpetual non call five, the bank’s first additional tier one (AT1) offering. Deal-hungry investors came in strong for the Lion City’s first AT1 in almost two years.

After the uneasy calm that fell over equity markets following China’s devaluation of the renmimbi last week, investors got another rude shock on Tuesday when Shanghai stocks tumbled 6.2%, prompting bankers to mull over the possibility of pulled deals.