DBS

Agricultural Development Bank of China (ADBC) has dipped into the euro market for the first time to diversify its investor base, despite having no real need for the currency and having to pay up for the fundraising.

DBS Bank attracted a strong order book for its $1.25bn three year covered bond, the largest ever issued by an Asian bank.

Gunvor, the Swiss energy and commodities trading company, has signed a $1.68bn revolving credit facility, having increased it during syndication as lenders piled into the transaction.

A flurry of Asian bond issuers have ventured out in a bid to wrap up deals ahead of the Thanksgiving holiday in the US on Thursday, even as markets remain on shaky ground.

Indonesian motorcycle financing firm Federal International Finance (FIF) has doubled the size of its fundraising to $400m after finding support from a 22-strong syndicate group.

Beijing Enterprises Group and Youyuan International Holdings hit the loan market this week for their latest syndicated fundraisings.

Bank of China returned to the bond market with a multi-tranche, multi-currency bond this week, making clear that its funding needs and its role as a flag-bearer of Chinese policy overseas are inextricably linked. Morgan Davis reports.

Beijing Enterprises Group is in the market for a HK$4.5bn ($575m) five year term loan launched through eight banks.

DBS has made several senior staff moves ahead of the retirement of Jeanette Wong, group head of institutional banking (IBG), next March.

High yield issuers’ struggle to push out deals in turbulent market conditions was reflected when Singapore’s Interplex Holdings was forced to cancel its inaugural dollar offering.

Singapore’s Interplex Holdings pulled its planned debut dollar bond sale on Friday.

DBS Bank is planning a roadshow ahead of its first dollar covered bond in over three years, and the first from a Singaporean bank since February 2017. The expected deal follows two large Canadian benchmarks and shows that dollar covered bond funding is becoming more compelling than euros.