DBS

Bonds from Indian corporations were among the worst performing investment grade deals in Asia last week. The primary market also suffered, with one deal cancelled and another put on hold.

Hexaware Technologies, an Indian software company majority owned by Baring Private Equity Asia, has mandated nine banks for a $600m take-private loan.

Chinese food and beverage company Bright Food sold a euro-denominated bond via its Singapore arm on Wednesday, raising €800m. It leaned on Chinese bank support to price the deal at a tighter level than where European investors were willing to buy.

Samson Paper Co has breached two covenants on a HK$780m ($100m) loan from 2017, with lenders still waiting for more information from the company.

Goodman Hong Kong Logistics Fund1 (GHKLF), a warehouse property owner, found overwhelming investor support for its first dollar bond in six years.

A recent surge in dollar bond supply tempered enthusiasm among investors for Vista Land & Lifescapes’ $200m outing.

Mercuria, the Swiss commodity trading company, has signed $1.5bn of revolving credit facilities, prompting lenders on the deal to say the European syndicated loan market is returning to normality after the Covid-19 dash for cash.

TCL Technology Group Co sold its maiden dollar bond on Tuesday, getting a 10 times oversubscribed book at its peak thanks to a standby letter of credit (SBLC) from Bank of China.

Charoen Pokphand Indonesia is gauging appetite among a select few existing lenders for a new $307.9m-equivalent dual-currency loan.

Syndicate bankers are scrambling to make sense of the covered bond market, where sentiment has been changeable in recent weeks. Amid volatility and small issuance windows, sustainable bonds have proven a safe strategy to ensure successful deals.

Korean Housing Finance Corporation (KHFC) has launched its second social covered bond of the year in euros, setting the spread for its deal in the middle of its guidance range.

Swiss Re debuted in Asia this week with a S$350m ($251.67m) bond that established the European reinsurer in the Singapore market. It also paved the way for more issuance from the firm.