DBS
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Temasek Holdings and its wholly-owned Azalea Asset Management this week brought out Astrea V, the latest collateralised fund obligation (CFO) backed by cash flow generated from private equity funds, finding an even better response than their last outing. -
Two Chinese property companies raised a combined $485m at the end of last week ahead of the holiday weekend in Hong Kong.
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Logistics provider ESR Cayman launched what will be the Hong Kong Stock Exchange’s biggest IPO of 2019 so far on Wednesday, seeking to raise up to HK$9.76bn ($1.24bn) as hopes of US rate cuts opened a clear window in otherwise trade war-weary markets. Gina Lee reports.
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Warburg Pincus-backed logistics manager ESR Cayman opened books on Wednesday for what will be the biggest float in Hong Kong so far this year.
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The Philippines’ Aboitiz Power Corp has launched into general syndication its $300m loan to back its acquisition of AC Energy.
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CSSC Shipping has commenced bookbuilding for its IPO on the Hong Kong Stock Exchange.
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BOC Aviation, the aircraft leasing group owned by Bank of China, is returning to the offshore loan market, seven months after it sealed a smaller transaction.
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Tata Motors Finance, a subsidiary of India’s Tata Motors, is tapping the offshore market for the first time as it looks to close on a $60m facility.
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Yiwu State-owned Capital Operation Co, a Chinese local government financing vehicle (LGFV), nabbed $600m on Wednesday in a deal that was led by 14 banks.
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Chinese issuers were out in force again in the bond markets on Wednesday, with financial companies ICBC International Holdings and Avic International Leasing Co raising $1.15bn between them.
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Three Chinese borrowers sold perpetual notes on Tuesday, raising a combined $900m from the rare structure.
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The market welcomed a dose of investment grade rated corporate and financial supply on Thursday. State-owned enterprise (SOE) Shougang Group saw its bond rally in the aftermarket, while onshore brokerage Huatai Securities and China Ping An Insurance Overseas also managed to price deals tightly.
