Singapore

Canadian insurance company Manulife Financial Corp has named banks to lead a Singapore dollar-denominated subordinated green bond.

Chinese issuers are starting to look beyond US dollars for new fundraising opportunities, with attractive cross-currency swap rates — and the potential for diversification — making Singapore dollars and euro issuance the flavour of the month. Morgan Davis reports.

Suntec Real Estate Investment Trust printed a S$300m ($220m) convertible bond off the back of solid aftermarket trading in recent new issues, although some bankers think the window could be closing soon.

Société Générale has given additional responsibilities to two senior bankers working in the research department of its corporate and investment bank.

China Eastern Airlines Corp has nabbed S$500m ($366.69m) from its first foreign currency transaction as it makes an attempt to diversify its funding base.

CCCG Overseas Real Estate (Core), a Singapore-based company owned by China Communications Construction Group, has approached banks for its maiden dollar syndicated loan.

Gaming firm Razer has raised HK$4.1bn ($528.8m) from its IPO after pricing it just off the top of guidance at a level considered auspicious, said sources close to the deal.

China Eastern Airlines Corp launched its maiden Singapore dollar bond on Tuesday morning local time, marking the first time the company is venturing offshore.

Justin Crane, head of loan syndicate and distribution at Standard Chartered, is set to leave the bank at the end of this month, sources said.

Yoma Strategic Holdings has bagged S$82m ($60.1m) through a placement of 155m primary shares on the Singapore Exchange.

Sasseur Reit is expected to start pre-deal investor education for a S$500m ($366m) IPO in Singapore from Tuesday, said bankers close to the trade.

Keppel-KBS US Real Estate Investment Trust raised $448m in Singapore’s second IPO of a pure play US Reit, after demand from private banking accounts helped it get over the finish line.