Singapore

The strength of the primary debt market in Asia shows no signs of abating, with a number of borrowers heading out on Thursday for fresh dollar fundraisings.

Beijing Properties (Holdings), China Everbright Bank and Olam International were vying for investors’ attention on Wednesday in what is a busy week for dollar issuance in Asia ex-Japan.

Singapore-based instant beverage and food producer Viz Branz Holdings has kicked of investor education for its potential S$300m ($213.7m) IPO, according to a banker close to the deal.

Swiss commodities trader Ecom is back in the market for a one year revolver, mandating four banks for the $400m borrowing.

United Overseas Bank this week became the first issuer to price covered bonds simultaneously in euros and dollars, helping it to attract new, especially Asian, investors.

HSBC has made some high profile appointments to its commercial banking teams in Hong Kong and Mainland China, according to an announcement on Thursday.

The Singapore dollar bank capital market welcomed Commerzbank’s inaugural Basel III tier two bond this week, allowing it to price through fair value.

United Overseas Bank issued a euro covered bond flat to its curve and WL Bank priced at the tightest spread of the year, suggesting slowing supply is exacerbating a squeeze on investors. UOB was also set to issue its first dollar-denominated covered bond.

The Asia debt market saw a fresh rush of dollar deals on Wednesday, with property names China Jinmao Holdings Group and Xinhu Zhongbao, as well as Singapore’s United Overseas Bank launching new deals.

The Singapore dollar bank capital market is set for a busy week with Commerzbank announcing a Basel III tier two bond on Wednesday morning. Its offering closely follows UOB’s successful tier two outing on Monday.

United Overseas Bank in Singapore has mandated joint leads for its second covered bond, and the second issue from a Singaporean borrower this year. It may issue in euros or dollars, or potentially in both currencies. Overseas Chinese Banking Corporation is expected to follow later this year.

United Overseas Bank priced a Basel III tier two bond in its home currency on Monday, becoming the first FIG to sell a Singapore dollar denominated deal in 2017. And it did it with style, achieving both the largest size and the lowest spread.