DBS

State Bank of India, which wrapped up a $500m syndication with 21 lenders this week, is already eyeing a new borrowing of about the same size, said bankers.

Singapore IPOs are heating up as NetLink Trust began drumming up interest on Tuesday for a $1.5bn IPO, set to be one of the country’s largest this year, with AEP Reit expected to follow soon.

Chinese issuers Far East Horizon and Power Construction Corporation of China sealed perpetual non-call five year deals on Wednesday, feeding investor appetite for yield from high quality names.

Singapore’s HRnetGroup is set to price its IPO at the top of guidance after investors from all walks of life turned up for a piece of the S$174m ($126.0m) float, according to sources close to the deal.

ONGC Videsh (OVL), the overseas investment arm of Indian state-owned ONGC, is seeking a dual currency $844m-equivalent loan from the offshore syndication market.

State-owned Power Construction Corporation of China and Sinochem-backed Far East Horizon are in the market with dollar-denominated perpetuals, while Tunghsu Group is making its international debut with a three year.

Industrial Commercial Bank of China’s London branch and subsidiary signed a self-arranged $1.25bn facility in an oversubscribed deal with 16 banks on Tuesday. The deal follows a spate of lending by the bank in emerging market deals.

Bharat PetroResources (BPRL), the overseas arm of Bharat Petroleum Corp that approached lenders for a $300m loan in April, has chosen two banks to arrange the deal.

A $500m three year borrowing for State Bank of India has been allotted among 21 lenders, eight of which joined during general syndication.

South Korea’s GS Caltex Corp bagged a $400m five year deal on Monday, securing buy-side support thanks to its credentials, despite a soft market backdrop.

Korean Air Lines is trying to take off with a new dollar bond following an aborted attempt in September last year. Also on Monday, GS Caltex Corp is out with a five year 144A/Reg S deal, while SOCAM Development has reopened its recent notes.

Singaporean broadband provider NetLink Trust is set to begin investor education this week for its IPO, which could raise around $1.5bn, according to a banker close to the deal.