DBS

Singapore’s Keppel Corp, together with US-based KBS Realty Advisors, is preparing to list a real estate investment trust in the southeast Asian country, backed by commercial properties in the US.

Mapletree Logistics Trust sealed an accelerated bookbuild at the top of guidance on Wednesday, raising S$353.5m ($261.8m) from the first step of a two-pronged equity raise to fund the acquisition of a Hong Kong warehouse.

CSI Properties printed a $200m bond on Wednesday for refinancing purposes. The leads were not short on comparables given that several of the issuer’s developer peers have sealed similar transactions so far in 2017.

A chunky $4.108bn leveraged buyout financing, for the acquisition of Global Logistic Properties by a consortium of Chinese investors, has entered into general syndication.

Postal Savings Bank of China Co has mandated 21 banks to work on a dollar AT1 transaction worth up to Rmb50bn ($7.4bn), expected to hit the market as early as next week.

CSI Properties and China Logistics Property (CNLP) are in the thick of the dollar debt market this week, with the former gauging interest for a perpetual deal, and the latter boosting its coffers with a tap.

BOC Aviation landed safely with its dual-tranche bond on Monday, pricing both the $500m portions inside its curve. While participation from US investors was significant, Asian accounts were still the price leaders, helping the issuer keep its costs low, said bankers.

Cromwell European Real Estate Investment Trust launched bookbuilding on Monday for a €902.9m ($1.08bn) listing on the Singapore Exchange, a move in line with the parent’s diversification strategy.

BOC Aviation took off with its first dollar-denominated dual-tranche offering on Monday, marking a rapid return to the international debt market this year.

The Climate Bonds Initiative (CBI) said it is working with Hong Kong’s stock exchange to launch Green Bond Connect, an initiative to help Bond Connect investors identify Chinese bonds that meet international green standards. But market participants are divided on whether such an initiative is necessary. Noah Sin reports.

The loan backing Global Logistic Properties’ (GLP) leveraged buyout by a consortium of Chinese investors has been launched into senior syndication at a smaller size of $4.108bn, said bankers arranging the financing.

Lai Sun Development Company beat competition on Wednesday to nab $400m from a bond, managing to price inside the levels achieved by other unrated Hong Kong names recently.