DBS

Axis sells full Syndicate Bank loan — Onfem boosts size to HK$6bn — Indorent closes $175m borrowing with 13 banks — VPBank wraps up $200m facility — Vingroup attracts 14 lenders

Indian telecommunications giant Bharti Airtel made a splash in the equities market this week, bagging $2bn from a qualified institutional placement (QIP) and $1bn from a convertible bond, the first equity-linked issue in the country in more than two years. Both the deals received a big thumbs-up from investors, reports Jonathan Breen.

Indonesian automobile company CSM Corporatama, also known as Indorent, has wrapped up its syndicated loan at a bigger size of $175m.

Asian bond issuers went full speed ahead with their fundraising plans on Monday, launching new deals ahead of Chinese New Year holidays at the end of the month.

Debt bankers and investors focused on Indonesia are eager to put the year behind them, after elections and a big dollar bond default dented issuance volumes. But they are optimistic about 2020, believing that the southeast Asian country could live up to its potential as a hotbed of high yield borrowing. Morgan Davis reports.

DBS has hired two bankers to join its syndicated finance team in Singapore.

Allianz Real Estate and Gaw Capital Partners have secured a joint S$945m ($697m) green loan to support the acquisition of Duo Tower and Duo Galleria in Singapore.

India's REC, formerly known as Rural Electrification Corp, raised $500m from a five year bond on Thursday.

China Merchants Commercial Real Estate Investment Trust has raised HK$2.6bn ($327.6m) from its IPO, breaking a six-year drought of Reit listings in Hong Kong.

Bank of Communications Financial Leasing Co bagged $600m from a floating rate note (FRN), taking advantage of a strong preference from investors for a floating rate format compared to fixed.

Thai Beverage is planning to spin off and list its brewery business in a deal that could raise up to $2.5bn, according to a source familiar with the matter.

Oil and Natural Gas Corp (ONGC), the largest crude oil and natural gas company in India, tussled with bond investors during marketing for its latest dollar deal this week. Investors pushed back against ONGC’s demanding terms and forced a last-minute flip-flop over a change of control clause. Morgan Davis reports.