Singapore

ABN Amro has promoted Brian McGirr as head of debt solutions for Asia, alongside two internal transfers who will join his team.

Chinese property developer Powerlong Real Estate Holdings has inked a $120m term loan with three banks to refinance its existing notes.

Property developer Frasers Centrepoint has begun investor education for a real estate investment trust IPO that could raise up to S$900m ($652.1m), according to a source close to the deal.

UniCredit has appointed Amit Dewan to the newly created position of head of financing and advisory for Asia Pacific, furthering bolstering the bank’s operations in the region.

Singapore's DBS is looking to expand its covered bond investor base and has now set its sights on an Australian dollar offering.

The Singapore dollar bond market has been dominated by financial and corporate subordinated debt in recent weeks with transactions worth S$2.64bn ($1.9bn) sold since the start of May. While the swap driven nature of the demand means issuance will be patchy, bankers believe this trend could run for some time, writes Rev Hui.

Canada’s Manulife Financial Corp and Singapore’s Mapletree Logistics Trust have added their names to the growing list of issuers accessing the Singapore dollar market for subordinated debt. And thanks to the comeback of private banks in the country, more issuers — both foreign and local — are expected to follow suit, reckon syndicate bankers.

BlackRock has named Justin Ferrier as managing director of the Asian private credit platform, as the investment manager seeks to fill the gap left by banks withdrawing from traditional lending, it said in a press release on Tuesday.

The Singapore dollar bond market’s recent resurgence of private bank demand has prompted a slew of subordinated debt issuance with Manulife Financial Corp launching a rare insurance tier two and Mapletree Logistics Trust opting for a perp non call five and a half on Monday.

DBS has seen one departure each in its loans teams in Singapore and Hong Kong, according to sources.

Three banks have seen changes to their loan syndication teams in Asia following departures and internal moves.

Singapore’s army of private bank accounts were spoilt for choice this week with a triple-whammy of bank capital transactions that suited them perfectly — an additional tier one from United Overseas Bank and tier two offerings from Société Générale and National Australia Bank.