Singapore

CDL Hospitality Trusts, a Singaporean real estate investment trust focusing on the hospitality sector, has kicked off a S$255.4m ($184m) rights issue to reduce leverage after announcing the purchase of the Pullman Hotel in Munich for €98.9m.

NetLink Trust has kicked off bookbuilding for its up to S$2.7bn ($1.9bn) IPO, set to be Singapore’s largest listing in half a decade, according to a source close to the trade.

Qingdao Lidong Chemical Co, a unit of petroleum products company GS Aromatics, is seeking a $60m loan in general syndication.

The Asian M&A market is heating up, providing loans bankers with some welcome relief following a relatively quiet first half. Promising opportunities from the potential spin-off of Hutchison Global Communications (HGC) and the sale of Singapore’s Global Logistic Properties have set the stage for more activity. Shruti Chaturvedi reports.

StanChart hires for ASEAN M&A — ANZ adds to Taiwan team — ING names Apac chief economist — Bond Connect expected on July 3

A syndicated loan for Gunvor Singapore has been allotted, with more than 20 banks joining the mandated lead arrangers and bookrunners at the end of general syndication.

Louis Dreyfus Co Asia has enlisted four mandated lead arrangers and bookrunners to distribute a $400m three year loan.

Standard Chartered has added to its M&A capabilities in southeast Asia by hiring a new managing director.

ING Bank has appointed a new chief economist and head of research for Asia Pacific, following Tim Condon's retirement.

The European Central Bank switches €500m-equivalent of dollar for renminbi in its FX reserves, the International Monetary Fund adjusts China’s GDP growth forecast while recommending a more transparent monetary policy, and Singapore does a policy U-turn to support One Belt One Road (OBOR).

ICBCI DCM co-head exits — Senior India departures at Barclays — CEB hires global markets deputy — ING appoints Asia levfin head

Citic CLSA chairman Tang Zhenyi has taken charge of investment banking at the Hong Kong-based firm after Andrew Low moved to Australia in May, said sources.