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China Development Bank is considering an increase to its $500m five year loan after an oversubscription in syndication.

Citic Pacific, the Hong Kong-listed steel to aviation investment company, has mandated a group of 18 banks as lead arrangers on its HK$7.2bn five and seven year financing. The self-arranged loan will be launched into a low level syndication today (Friday) and offers an all-in margin that was described by bankers as "attractive". The five year tranche pays an annual all-in margin in the mid-30s over Hibor, while the seven year portion is priced in the high 30s. Bankers said they were pleased with the pricing, noting that the margin compares well with comparable Hong Kong credits. "It could have been worse," said one banker in Hong Kong.

There has been another round of musical chairs in Beijing as investment banks scramble for an advantage in China.

Singapore government investment company Temasek Holdings sold a 4.7% stake in Singapore Telecommunications on Monday to raise gross proceeds of S$2bn ($1.23bn). The sale cut Temasek's stake to 56.3%.

Goldman Sachs has sold its 25% share in two subsidiaries of India's Kotak Mahindra Bank and plans to invest $1bn in the country through a standalone entity.