DBS

Indian state-owned refiner Hindustan Petroleum Corp (HPCL) has mandated four lenders for a new offshore syndicated loan.

Bangladeshi independent power producer (IPP) Summit Power has launched investor education ahead of its ground-breaking Singapore IPO, according to a banker close to the deal.

Asia’s debt market is heading into March at full speed with seven issuers opening new deals on Monday. Borrowers need to be quick on their feet and act promptly over the next month to get their bonds past the finish line, said bankers in the region.

Chinese leasing firm Far East Horizon was one of the first issuers to reopen the international bond market after a lull of more than a week, raising $300m from a dual-currency transaction on Thursday. But it was forced to pay up for the dollar portion due to lingering volatility in the market.

India's Tata Steel, which mandated a group of 21 lenders in January for a new loan, has shrunk the size of the fundraising following a blowout bond issuance.

The pipeline for equity capital raisings out of Southeast Asia is filling up nicely, with issuers from the Philippines, Vietnam, Bangladesh and Singapore looking to launch deals.

Chinese issuers are back following the Lunar New Year break. Far East Horizon and Redco Properties Group are both wooing bond investors, effectively reopening the dollar debt market in Asia.

Chinese financial services provider Far East Horizon is pursuing the sale of a dollar-denominated and offshore renminbi bond.

Singapore is set to host its first IPO from Bangladesh, with Summit Power looking to hit screens in early March, said bankers close to the deal.

A group of employees from Vincom Retail have raised Dong 4.51tr ($197.5m) after they sold a block of the company’s shares, upsizing the offer on the back of strong institutional demand.

The mayhem reverberating through global equity markets pushed shares of Ascendas India Trust down to a new 52-week low, after the firm raised S$100m ($76m) from an overnight placement.

Pricing details are out for a $100m facility for car rental service provider CSM Corporatama, better known as Indorent.