Singapore

Singapore’s Interplex Holdings pulled its planned debut dollar bond sale on Friday.

DBS Bank is planning a roadshow ahead of its first dollar covered bond in over three years, and the first from a Singaporean bank since February 2017. The expected deal follows two large Canadian benchmarks and shows that dollar covered bond funding is becoming more compelling than euros.

In this round-up, China’s foreign reserves in October decrease $34bn due to the stronger dollar, monthly exports climbed more than expected, Singapore Exchange signed cooperation agreements to develop more opportunities for Chinese enterprises in Singapore.

Clifford Capital has netted $300m from its third debt outing of the year. Despite the Singapore firm’s frequency in 2018, it still managed to attract investors due to its rarity factor.

Shenzhen International Holdings is set to issue its second Panda bond, seeking an ambitious Rmb4.7bn ($678m). Regular issuer GLP is also planning a comeback.

Cromwell European Real Estate Investment Trust (CEReit) is looking to raise €224.1m through a rights issue to fund acquisitions of commercial properties and offices.

A flexible approach allowed Shangri-La Hotel to tap into the Singapore dollar bond market on Thursday for S$825m, a rare outing that helped it stave off pressing loan liabilities.

Sujata Bhattacharjee has returned to BNP Paribas’ loans team after a short stint at Indian investment firm 1Crowd.

Recent developments may help push the risk of cyber attacks onto the capital markets through catastrophe bonds and other insurance-linked securities (ILS). But investors are likely to be wary about taking on too much exposure.

China and Japan confirm details of currency swaps and plans to invest more in third party markets, the Hong Kong Monetary Authority (HKMA) renews the license of nine authorised institutions as Primary Liquidity Providers (PLPs) for the CNH market in Hong Kong and Singapore sets up new government agency to bridge the funding gap facing Asia’s infrastructure projects.

Singapore’s Reit issuers are proving a resilient lot when it comes to fundraising in the equity markets, with the latest deal from Capitaland Mall Trust taking this year’s tally to $2.3bn.

The response to a refinancing loan for KKR-owned MMI International, a hard disk drive developer, has disappointed amid concerns around a Chinese consortium’s planned acquisition of the Singapore-based firm. What lies ahead for the borrower? Pan Yue finds out.