DBS

Singapore’s Reit issuers continued to tap the equity market with gusto this week, as CapitaLand Commercial Trust competed a S$217.9m ($162.3m) fundraise while Manulife US Real Estate Investment Trust launched a $197.2m rights issue.

A rare floating rate note from Peking University Founder Group on Monday stood out in a busy market, raising the question of whether the format can become popular among corporations.

Bank of China’s aircraft leasing arm BOC Aviation sold a rare seven year dollar-denominated floating rate note (FRN) on Monday to an overwhelming response. The deal has opened the door to other financial institutions in the region looking to extend their funding profiles in the format.

Indian company TVS Logistics Services wants to increase a loan that it launched in November.

Peking University Founder Group, Industrial and Commercial Bank of China and BOC Aviation came out with floating rate deals on Monday as the format continues to find favour among investors.

Birla Carbon, part of Indian conglomerate Aditya Birla Group, is targeting its relationship banks for the senior syndication of a $1.2bn borrowing.

A pair of Singapore Reits came to the equity market this week to raise funds for acquisitions, pocketing S$779.1m ($581.0m) between them.

Keppel DC Reit’s overnight share sale to raise S$303.1m ($227.6m) was more than two times covered, according to the company.

Indomobil Finance Indonesia has returned to the offshore loan market for a new $100m borrowing, according to a banker invited to participate in the deal.

Keppel DC Reit opened books on Monday morning for an accelerated bookbuild worth S$303.1m ($227.6m), as it seeks equity funding to pay for an acquisition.

China’s Kingboard Chemical Holdings has returned to the offshore loan market for a HK$6bn ($764m) borrowing, less than six months after signing its last syndicated transaction.

The UK’s Lloyds Banking Group is readying a subordinated tier two bond, to be issued in Singapore dollars.