DBS

Commodities trading company Glencore Agriculture is making its loan debut in Asia, seeking $300m from the syndication market as a way to establish itself in the region and show its independence from its parent. The thin pricing on offer means only banks keen to build a relationship with the company in the hope of getting ancillary business will jump in, writes Pan Yue.

Shandong Iron & Steel Group Co was forced to pay 50bp more than it expected for a new $500m three year bond on Thursday, despite trying to appeal to investors with a positive spin on its future fundraising plans.

China’s State Development and Investment Corp (SDIC) nabbed $300m in the bond market on Thursday.

Chinese financial technology company Ant Group has sealed the world’s largest ever IPO, raising $34.4bn from dual listings in Shanghai and Hong Kong. The company built two mammoth order books despite a turbulent week for equity markets globally — although that created serious challenges for bankers allocating the stock. Jonathan Breen reports.

Indian software firm Hexaware Technologies has wrapped up a $600m loan to fund its take-private by Baring Private Equity Asia.

Formosa Plastics Corp has shortlisted six banks to arrange a multi-tranche financing for its Vietnam business.

Chinese financial technology company Ant Group is set to raise $34.3bn from the world’s largest ever IPO, after covering the deal within minutes of launch.

Singapore-listed Mapletree Logistics Trust has raised S$650m ($479.8m) in fresh equity after boosting the size of its placement.

Chinese data centre operator GDS Holdings has covered the books for its Hong Kong secondary offering, just hours after launching a deal that could be worth about $1.6bn.

China Development Bank (CDB) raised nearly $3bn from dollar and euro bonds on Monday, appealing to investors due to its rarity in the debt market.

Singapore-listed Mapletree Logistics Trust is funding an acquisition spree of logistics assets in Asia by tapping the equity market for up to S$650m ($479m).

Asia’s dollar bond market has been swamped with new deals this week. Thursday was no different, with corporate borrowers from Greater China alone raising just over $3bn between them.