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  • Standard Chartered has made Brad Levitt group head of capital markets in its wholesale banking division in Singapore. He replaces David Worth, who has retired.
  • Asia's first big equity sale of the year will get under way on Monday with the $2.7bn IPO of Lotte Shopping, which owns South Korea's biggest department store chain.
  • The project financing for MGM Grand Paradise is likely to be launched into syndication next month, after the Chinese New Year holiday. The borrower named eight lead banks in the last quarter of 2005, but has so far not pushed for financial close while it has been discussing enhancements to the casino resort project.
  • The $72m 28 month term loan for AirAsia arranged by DBS Bank was signed on December 27 in Kuala Lumpur.
  • Citi under scrutiny in Korea
  • PT Bakrie Sumatera Plantations has attracted commitments from three banks in general syndication. Moscow Narodny Bank, RHB Bank and WestLB have joined the $69m multi-tranche deal, with RZB Austria acting as sole mandated arranger.
  • Great Eastern Shipping signed its $53m refinancing on December 27 in Mumbai via mandated arranger Citigroup. The deal comprises three tranches, of 3-1/2, 4-1/2 and 5-1/2 years and refinances a $53m facility signed in May 2004.
  • Indonesia is preparing to follow the Philippines' triumphant $1.5bn 25 year and Eu500m 10 year deal last week with its first fundraising of the year in February or March.
  • JG Summit, the unrated Philippines food-to-airlines conglomerate, made full use of excellent market conditions this week to sell a $300m seven year bond with a five year put option, led by Credit Suisse First Boston.
  • HDFC Bank is preparing a Rp2bn ($45m) securitisation of car loans and hire purchase contracts. The single tranche of five year notes has a national scale rating of AAA from Fitch and a AAA rating from Crisil. It is supported by credit enhancement of 4.52%, cumulative scheduled excess spread of 2.6%, and a 1.1% liquidity facility.
  • China Travel International Investment (Hong Kong) has raised HK$1.5bn through Calyon as sole arranger. The three year loan was prefunded on January 3, and was launched into syndication on Monday as Calyon looks to sell down its underwriting.
  • Asian currency bonds