Singapore

Singaporean agricultural company Olam International has raised a three year sustainability-linked $500m revolving club loan, the first of its kind in Asia.

Qualitas Medical Group is preparing to launch an IPO of around S$150m ($114.4m) on the Singapore Exchange, said a banker on the deal.

Commodities trader Noble Group decided not to repay a $379m bond that matured this week, triggering an event of default. But the latest development got little reaction from the market, as the company has long been in the process of restructuring almost $3.4bn of debt.

Westpac Banking Corp has appointed Michael Correa as general manager for Asia Pacific.

Lotte Shopping raised W303.6bn ($285.4m) from a five year put three exchangeable bond on Wednesday, which some bankers thought was priced at overly generous terms.

Rao to lead HSBC’s Southeast Asia corporates team – JP Morgan names Asia DCM head

DBS Group announced a mandate on Wednesday for a euro tier two deal. It is thought a transaction would be its first in euros outside of covered bonds, and it would be the first unsecured trade from a Singaporean financial institution in euros in more than 10 years.

Singapore-listed OUE tapped the markets on Tuesday with a pair of five year equity-linked bonds, one convertible into its shares and the other exchangeable into stapled securities of OUE Hospitality Trust.

A unit of Puma Energy is in the loan market, seeking $1.1bn across three tranches, according to a banker who received the invitation.

HSBC has appointed Pradeep Rao as head of corporates for Southeast Asia, effective immediately, according to a press release sent on Tuesday.

Singapore Exchange (SGX) on Thursday proposed changes to rules governing its clearing house, which it said should result in more appropriate contributions to its derivatives clearing fund.

The Singapore Exchange is firing shots at the Hong Kong Stock Exchange once again to lure IPO-hopefuls, this time over the city’s ever closer political relationship with China. But Hong Kong can boast some clear advantages over its rival.