DBS

A wave of issuers — mostly Chinese — including China Mengniu Dairy Co and local government financing vehicle Guangzhou Development District Financial Holdings flooded the bond market on Thursday, riding the positive sentiment after the US Federal Reserve chairman Jerome Powell signalled a rate cut later this month.

United Laboratories launches HK$1bn loan — Goshawk seeks $500m in Asia — West China Cement returns for $150m — Wolong debuts in euros — Jingneng Clean Energy pays up for comeback

Beijing Jingneng Clean Energy is offering a slightly higher margin on a new HK$3bn ($385m) loan, compared to a green loan sealed last year.

Prime US real estate investment trust is on the road for a potential S$834.5m ($613.8m) listing on the Singapore Exchange, with over half of the units already taken up by cornerstone investors.

Louis Dreyfus Asia has priced its $500m three year revolving credit facility at the same level as its last loan from 2018.

Following on from Barclays’ Kangaroo return last month, two more foreign banks looked towards the Australian market on Wednesday. Toronto Dominion Bank placed its inaugural bail-inable Kangaroo and BNP Paribas printed its first Australian dollar AT1 note.

Tsinghua Tongfang Co has priced a smaller $300m deal, as investors appeared cautious amid an ongoing share sale. Yuzhou Properties and Shandong Guohui Investment Co returned to the market and saw big order books, the latter fueled by lead manager interest.

Credit Suisse north Asia loan syndicate head exits — DBS loses loans banker — Maybank IB nabs ECM banker — SGX rejigs structure — CICC gets new chairman

Investors embraced the duration offered by Adani Ports and Special Economic Zone this week, snapping up its $750m trade and pushing the order book to a hefty peak of $4.5bn.

Impro Precision Industries has raised HK$999.9m ($127.94m) from its float on the Hong Kong Stock Exchange, pricing the offering near the middle of initial guidance.

Syndicated loans banker Marilyn Fung has left DBS after more than eight years with the Singaporean lender, according to a source close to the situation.

Chinese local government financing vehicles (LGFVs) and property developers took advantage of positive sentiment after dovish comments from the Federal Reserve to flood the offshore market with bonds.