Southeast Asia

Singapore real estate investment trust Mapletree Industrial Trust has raised S$823.3m ($618.3m) from a sale of new units to fund data centre acquisitions, with the deal receiving a warm welcome from investors despite not being very well flagged.

Covered bonds issued this week by United Overseas Bank and Raiffeisen-Landesbank Steiermark showed that, for the first time this year, sentiment has turned bearish and suggested that more careful consideration of pricing, timing and maturity is now required.

Indonesian multi-finance companies are continuing to favour club loans over syndicated deals, with Federal International Finance becoming the latest firm to use this route for its fundraising. Pan Yue reports.

Singapore Airlines is planning to raise S$6.2bn ($4.6bn) from a rights offering of mandatory convertible bonds.

Singapore has set up a new task force to give a fresh push to its green financing ambitions, rolling out initiatives and putting more focus on climate-related disclosures from financial institutions. Morgan Davis reports.

Freeport Indonesia is inviting banks to join the senior syndication stage of its $750m borrowing.

United Overseas Bank managed to extend its curve with €750m of eight year funding in the covered bond market on Tuesday at levels were well inside its previous blowout deal issued in November. However, bankers off the mandate gave the deal mixed reviews.

Indonesian multi-finance company Federal International Finance is making a quick return to the market for a $250m new money loan, having closed two deals in the past year.

Singapore’s food and agri-business Olam has raised a $1bn loan to support its acquisition of US spices and seasoning company Olde Thompson.

United Overseas Bank and Raiffeisen-Landesbank Steiermark (RFLBST) have mandated leads for covered bond deals amid a weakening spread environment.

Philippine company Vista Land & Lifescapes bagged $170m from a tap of its 2027 notes this week.

Monde Nissin has covered the Philippines’ largest ever IPO on the first day of bookbuilding, after securing pre-launch demand from a high profile line-up of cornerstone investors.