Singapore
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Singapore-listed real estate company City Developments has raised a S$250m ($180m) loan to promote the United Nations’ Sustainable Development Goals (SDGs) through innovation. The company said it is the first deal of its kind.
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James Gifford, who was founding executive director of the UN Principles for Responsible Investing, has joined Credit Suisse in the newly formed position of head of impact advisory.
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Agricultural Bank of China Singapore branch has raised a $200m green loan from seven banks, following in the footsteps of peer ICBC London, which signed a mandate letter for a green loan three months ago.
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Lendlease Global Commercial Real Estate Investment Trust, a Singapore Reit sponsored by its Australian parent Lendlease, started sounding out investors for its IPO on Monday.
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PSA International, the Temasek Holdings-owned port operator, seized $500m from its return to the dollar bond market after a three year hiatus. It priced the 10 year deal right around fair value, thanks to its opportunistic timing and strong credentials.
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Switzerland-based UBS Group has priced its second Singapore dollar-denominated Basel III-compliant additional tier one (AT1) bond in just nine months, taking advantage of a rally in its deal from last November.
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DCM bankers in Asia have used a quiet August to prepare new bond deals for next month. But despite most bankers’ optimism that the coming weeks will be busy, many believe the second half of 2019 will be quiet compared with the same time last year as the market gets battered by volatility. Morgan Davis reports.
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Louis Dreyfus Asia has boosted the size of its annual borrowing to $650m from $500m after receiving commitments from 31 lenders.
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Yanlord Land Group offered a welcome bit of supply in Asia’s otherwise tepid bond market this week, breaking the silence to raise $400m from just its third dollar deal in eight years.
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Singapore Telecommunications (Singtel) enjoyed a rare outing in the dollar bond market on Tuesday, nabbing $750m. Morgan Davis reports.
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Syndicated loans banker Marilyn Fung has joined Standard Chartered’s loan syndication team in Singapore.
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Asia Pacific Resources International Holdings (April), a subsidiary of Royal Golden Eagle, has made a quick return to the loan market for a self-arranged borrowing of up to $1bn.