DBS

Road King Infrastructure found strong support for its high yield dollar deal on Tuesday, gathering $2bn of orders for a $300m transaction.

Compart Systems, a high precision metal components maker, has returned to the loan market to refinance an old borrowing from 2016, which was used to support its buyout by Platinum Private Equity.

DBS has hired Abhishek Jain from Goldman Sachs to join its mergers and acquisition team.

Casino developer Wynn Macau has made a rapid return to the bond market for an $850m deal, riding on an uplift in sentiment following the slow easing of travel restrictions to the Asian gambling hub.

Yangzhou Urban Construction State-Owned Assets Holding (Group) Co continued the tight pricing trend for recent bonds from Chinese local government financing vehicles with a 68bp tightening.

Hong Kong-based Li & Fung used a coupon step-up in case of a rating downgrade to attract investors to its $300m bond on Tuesday, as it gears up for a big hit to its business this year as a result of Covid-19.

Chinese property developer Yanlord Land Group has increased the size of its latest borrowing to $1.1bn-equivalent after receiving strong response during syndication.

Chinese local government financing vehicle (LGFV) Yiwu State-owned Capital Operation Co replicated its peers’ recent bond pricing success, to raise $500m with a 65bp price tightening during bookbuilding.

Two Indian companies have struggled to find demand in syndication for deals that were priced before Covid-19 shut down the country. But bankers are optimistic about the fate of India’s offshore loans market — as long as borrowers accept a rise in funding costs. Pan Yue reports.

Philippine oil refining and marketing company Petron has warned its lenders about a potential covenant breach on two of its dollar loans.

Investors flocked to Huzhou City Investment Development Group Co’s $300m bond, leading to a surprisingly large final book, a hefty 65bp price tightening and a headache over allocation.

Shanghai Pudong Development Bank Co has added to the growing presence of Chinese financial credits in the international debt market with a $500m deal.