DBS
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Japan Tobacco took the rare step of issuing corporate bonds in three different currencies on the same day when it sold its debut euro and sterling bond deals alongside a pair of dollar tranches this week. The unusual move proved to be a successful one however, with each tranche at least three times subscribed.
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BOC Aviation made its fourth dollar market outing of the year on Wednesday, locking up $500m from a tightly priced floating rate transaction.
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Mapletree Logistics Trust sealed its second overnight fundraising for the year and its largest follow-on offering in a decade on Wednesday, bagging S$375m ($274m) to acquire properties in Singapore.
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State Bank of India sold its debut green dollar bond through its London branch on Wednesday, reopening the market for the country’s issuers. But despite being a strong credit, the bank didn’t have an easy time marketing its notes against a volatile backdrop, as sceptical investors demanded a premium for emerging market risk. Morgan Davis reports.
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Chinese company Tewoo Group Co took the unexpected decision of pulling its bond outing this week after concerns around indebted firms from Tianjin spooked investors, making them question the credentials of a deal from the city. Morgan Davis reports.
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Japanese issuers are not frequently seen in the European corporate bond markets, but this week could have two companies going head to head with benchmark euro transactions. Japan Tobacco will sell its first new issues in Europe, while Toyota is better known to investors on the continent.
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China Construction Bank raised S$300m ($219m) through its Singapore branch on Thursday, opting for a two year tenor to offset rising funding costs since its debut in the currency last year.
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Commerzbank has ended a 10-month drought in Singapore dollar-denominated tier two deals, returning this week with a S$400m ($290m) bond. What lies ahead for the southeast Asian city-state’s local currency market? Addison Gong finds out.
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Chinese state-owned enterprises (SOEs) Poly Real Estate Group Co and China Minmetals Corp took different approaches to pricing their dollar bonds on Monday, resulting in diverging secondary market performances.
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The deal flow of high yield bonds kept rising in euros and sterling this week. Four new issuers joined the already heavy pipeline, including a euro bond from UK premium car manufacturer Jaguar Land Rover.
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Issuers and debt bankers in Asia have their eyes fixed on the coming week for primary deal flow to gather momentum, following a relatively slow pace of issuance at the start of September.
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Indonesian motorcycle financing firm Federal International Finance (FIF) has returned to the offshore loan market for a $200m borrowing.