Southeast Asia

Singapore dollar issuance has been moving at a snail’s pace over the past few months as nervous investors opt to keep their hands in their pockets. But a generous slew of upcoming redemptions may change that.

The onshore arm of DBS bagged Rmb3bn ($448.3m) from the Chinese bond market on Tuesday, marking its first trade since 2015 that carries a tenor of more than one year. The transaction was also the second bond from a Singaporean lender in the mainland this year.

HSBC has hired Seok Kheng Yap, a former loans banker at Scotiabank, as an associate director in the loan syndications team.

Bank Rakyat Indonesia (BRI) raised $500m from a five year bullet bond on Monday, proving investment grade issuers can still secure deals if the price is right.

Clifford Capital is seeking $458m this week from its debut project finance collateralized loan obligation cash flow securitization, to be issued through a newly established special purpose company Bayfront Infrastructure Capital.

Mitsubishi UFJ Financial Group has named Goh Kiat Seng as co-head of global corporate banking for its Malaysian subsidiary, effective July 12.

Vietnamese conglomerate Vingroup Joint Stock Company has closed an oversubscribed $400m five year loan to support its automobile business.

Philippine conglomerate San Miguel has closed senior syndication of its $1.1bn loan, attracting seven participants, according to a banker close to the situation.

Singapore Exchange (SGX) on Tuesday announced that it would allow market participants to centrally clear bespoke FX futures with a new service. The exchange is aiming for an August 27 launch date.

Indonesian power company Perusahaan Listrik Negara is seeking an up to $2bn debut loan, but has surprised some bankers with the tight pricing on offer.

Indian business process outsourcing company Aegis has closed a $150m leveraged buyout loan after a seven-month syndication process that attracted only three participants.

Standard Chartered has named Patrick Lee as chief executive officer for Singapore.