DBS

Chinese technology company Tsinghua Tongfang Co hit the market on Thursday in a desperate attempt to use its offshore regulatory approved fundraising quota before it expires at the end of March. While the issuer managed to raise $300m, the transaction was a rough one.

Asia’s dollar bond issuers were back in the market on Thursday after taking a pause during the US Federal Open Market Committee meeting this week.

Financial institutions stretched the appetite of bond investors to breaking point this week, flooding the euro market with nearly €15bn of deals, which struggled to perform in secondary despite carrying large new issue concessions.

DBS Group announced a mandate on Wednesday for a euro tier two deal. It is thought a transaction would be its first in euros outside of covered bonds, and it would be the first unsecured trade from a Singaporean financial institution in euros in more than 10 years.

Philippine firm Metropolitan Bank & Trust Co has set the final terms for its Ps60bn ($1.15bn) rights issue, which will be launched next week.

Tata Sons is poised to end a decade-long absence from the syndicated loan market when it launches a $1.5bn transaction later this month.

Chinese outlet mall trust Sasseur Reit has kicked off a fixed price bookbuilding for its S$396m ($301.3m) Singapore IPO, placing nearly half the deal with cornerstone investors.

Qatar National Bank and Bank of China kept the momentum going in the offshore renminbi bond market this week, with the latter’s Rmb4bn ($632m) deal the largest in nearly three years. Their success is an encouraging sign about appetite for the currency.

Dongfeng Nissan Auto Finance will be returning to the Chinese asset-backed securities market on March 8 with a Rmb4.5bn ($710m) dual-tranche deal on the interbank market — the largest transaction by a foreign name originator so far this year.

Bangladesh's independent power producer Summit Power launched pre-marketing this week for a ground-breaking Singapore IPO. It will be only the second international listing by a Bangladeshi company.

Singaporean issuers in the dollar market are rare enough for investors, but those with a guarantee from the triple-A rated government are ever more unusual. Clifford Capital made the most of that rarity value this week, raising $300m from a government-guaranteed deal.

Bank of China, Industrial and Commercial Bank of China and Industrial Bank Co have raised close to $3.7bn from eight fixed and floating rate tranches in three currencies. But most of the portions had to offer a new issue premium, which ranged from a few basis points to as much as 15bp.