DBS
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Kelvin Lim has returned to DBS as an executive director in the syndicated finance team after 11 years with Citi.
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Korean Air Lines (KAL) closed a $350m secured deal on Tuesday backed by future ticket sales between the US and South Korea, executing the drive-by trade using a credit facility from Shinhan Bank.
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Indian electricity utility firm Tata Power has launched a $245m refinancing loan into general syndication after mandating five banks last month.
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Chinese state-owned enterprise (SOE) Shandong Gold Group Co achieved size with its three year outing on Monday, raising $600m. Another government-linked entity in the province, Weifang Urban Construction and Development Investment Group Co, debuted in the offshore market with a $250m trade.
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Four Chinese state-owned enterprises (SOEs) were out in the dollar bond market on Wednesday, looking to seal trades ahead of a China sovereign bond sale on Thursday. But the volatility in the market presented a short-lived opportunity for debt sales and the borrowers’ new notes all slumped in the secondary market.
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A spike in US Treasury yields on Thursday had a knock-on effect on bond spreads in Asia, posing an additional challenge for issuers ready to head out the gates next week.
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CapitaLand has raised a S$300m ($218m) sustainability-linked loan from DBS, the first of its kind from Asia’s real estate sector.
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India’s UPL Corp has launched a $3bn five year term loan into general syndication to support its acquisition of Arysta LifeScience.
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Energy and commodities trader Mercuria is back in the loan market for its annual fundraising, seeking a $1.1bn multi-tranche borrowing.
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Indian electricity utility firm Tata Power has mandated five banks to lead a $245m borrowing, ending a two year hiatus from the offshore loan market.
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DBS has teamed up with Singapore-based Impact Investment Exchange to set up a $100m Women’s Livelihood Bond Programme.
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Chinese tire manufacturer Prinx Chengshan has opened books for its up to HK$1.01bn ($129.6m) IPO.