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  • Singapore's DBS Bank has completed its first funding exercise in its domestic bond market since 2001.
  • The $400m six year loan for Mirant Philippines has closed oversubscribed after 15 banks committed in sub-underwriting, bankers said this week. Credit Suisse, the original mandated lead arranger, could not be reached for comment, but bankers said as much as $1bn had been raised in syndication.
  • Chinese developer Shimao Property Holdings rose 5.6% on its stockmarket debut in Hong Kong on Wednesday, setting an encouraging background for Greentown China Holdings, which will price its Hong Kong IPO today (Friday).
  • Reliance Natural Resources has mandated six banks to lead a $310m standby letter of credit facility that will come to the market next week. They are Bank of America, Barclays Capital, BNP Paribas, DBS Bank, Kreditanstalt für Wiederaufbau and Sumitomo Mitsui Banking Corp.
  • Renaissance Capital, the Indonesian investment bank that is buying two of the country's largest coal mines, said this week it had secured funds for the acquisition, although bankers insisted that syndication remained open.
  • SoftBank, the Japanese internet venture capital firm, is considering a whole business securitisation as it looks to refinance the ¥1.28tr ($11.5bn) bridge loan it signed in April. Bankers expect the firm to decide this month how it will take out the loan it used to fund the leveraged buy-out of Vodafone's Japanese mobile phone subsidiary.
  • Standard Bank and Deutsche Bank on Wednesday launched syndication of the $181m loan backing the leveraged buy-out of Shandong Deosen Corp, a leading producer of xanthan gum.
  • Hyflux, the water services company, is considering an increase to its $100m five year loan after the deal was oversubscribed in syndication. Mandated lead arrangers BNP Paribas and DBS Bank received commitments totalling $100m in syndication, not including their own takes, and are discussing an increase with the borrower.
  • Asian loans bankers this week were busy preparing bids for Shinhan Bank, which has been inviting proposals for a $300m one year loan. The deadline for submissions is today (Friday).
  • Securitisation proved its worth to the burgeoning microfinance industry again this week, with the launch of the world's first direct securitisation of microcredit receivables for the Bangladesh Rural Advancement Committee, a non-governmental organisation.
  • A window for bond issuance in Asia could open next week, after the US non-farm payroll employment figure is released later today (Friday).