DBS

Baidu has become the latest technology company from China to tap the loan market, breaking a four-year absence from syndication for a $3bn transaction. The company wants to take advantage of the growing popularity of tech deals among bank lenders. Pan Yue reports.

Sustainability-linked bonds conquered a new investor base this week, as the instrument spreads rapidly around the world. Surbana Jurong, an architecture and engineering consultancy indirectly owned by the Singapore government, brought the first such instrument to the Singapore dollar market, where it aroused keen interest.

Indian Railway Finance Corp (IRFC) sold its first bond since its IPO this week, raising $750m.

A $390m loan backing CVC Capital Partners’ acquisition of Myanmar’s Irrawaddy Green Towers (IGT) was abruptly put on hold this week after political turmoil rocked the country following a military coup. Pan Yue reports.

A handful of Chinese companies managed to hit the bond market on Wednesday for new deals, ahead of not just the upcoming Chinese New Year break but also the jumbo outing launched by Alibaba Group Holding on Thursday.

Investors were eager to buy into investment grade rated property developer China Overseas Grand Oceans Group's (Cogo) latest dollar bond, pumping in $4.6bn of orders for the $512m trade.

Casino operator Genting New York priced a $525m bond on Wednesday.

More Chinese real estate borrowers headed to the dollar bond market on Tuesday, as bankers tackle a supply rush in the lead up to the Chinese New Year holidays in mid-February.

Indonesia's Tower Bersama Infrastructure took an aggressive pricing approach to a tap of its dollar bond on Monday. But when investor response fell short of expectations, the issuer was forced to pull its fundraising.

BOC Aviation followed Singapore Airlines into the bond market this week, bagging $400m amid a boost in sentiment around the travel industry.

The frenetic pace of dollar bond issuance from Greater China continued on Thursday as three property companies and two government linked names courted investors.

Indonesia's Tower Bersama Infrastructure used its recent rating upgrade to entice investors to its $300m bond on Wednesday. Price discovery was not easy but the telecommunication tower provider’s improving business profile appealed to the market.