DBS

Modernland Realty launched a new dollar deal on Thursday, following on the success of other high yield Indonesian names this year.

Ascott Residence Trust has wrapped up its rights issue 1.8x covered, raising S$442.7m ($313.7m) for the Singapore real estate investment trust.

ONGC Videsh (OVL), the overseas investment arm of Indian state-owned ONGC, has selected three banks for a $500m term loan to replace a bridge from last year. The oil firm is also raising funds in yen, and has picked two Japanese lenders for the financing, said a source.

Nine mandated lead arrangers and bookrunners have invited lenders to join the international loan market debut of Ant Financial subsidiary, Alipay (Hong Kong) Holding. The money will partly be used to support Ant’s bid to acquire MoneyGram.

Chinese property developer Yanlord Land Group is mulling increasing the size of its latest borrowing after over $1bn of commitments poured in for the $600m loan.

Chinese iron and steel making conglomerate Hesteel Group Co has snapped up $500m on the back of a price rally in the steel sector onshore, with bankers praising the company’s efforts to woo accounts during a roadshow.

Allocations have emerged for a $1.75bn multi-tranche borrowing by Indian conglomerate Reliance Industries, with retail liquidity ending up concentrated on a longer dated portion.

Emperor International Holdings, Xinjiang Guanghui Industry Investment (Group) Co and Zhuhai Huafa Group Co sealed new dollar deals on Thursday, going into their respective transactions with books fully covered.

A $1.75bn borrowing for Indian conglomerate Reliance Industries, which entered general syndication at the beginning of February, has wrapped up, with allocations expected to be issued soon.

Cosmetics packaging company HCP Global has approached lenders for a $540m borrowing that will replace a $430m loan sealed last year, according to bankers.

Emperor International Holdings, Xinjiang Guanghui Industry Investment (Group) Co, Japfa Comfeed Indonesia and Zhuhai Huafa Group Co ventured into the debt market on Thursday, following some recovery in credits in the US overnight.

The MTN market for real estate developers in Singapore has sparked to life. This could be linked to the government’s relaxation of property market measures that took effect on March 11.