DBS

A recent surge in dollar bond supply tempered enthusiasm among investors for Vista Land & Lifescapes’ $200m outing.

Mercuria, the Swiss commodity trading company, has signed $1.5bn of revolving credit facilities, prompting lenders on the deal to say the European syndicated loan market is returning to normality after the Covid-19 dash for cash.

TCL Technology Group Co sold its maiden dollar bond on Tuesday, getting a 10 times oversubscribed book at its peak thanks to a standby letter of credit (SBLC) from Bank of China.

Charoen Pokphand Indonesia is gauging appetite among a select few existing lenders for a new $307.9m-equivalent dual-currency loan.

Syndicate bankers are scrambling to make sense of the covered bond market, where sentiment has been changeable in recent weeks. Amid volatility and small issuance windows, sustainable bonds have proven a safe strategy to ensure successful deals.

Korean Housing Finance Corporation (KHFC) has launched its second social covered bond of the year in euros, setting the spread for its deal in the middle of its guidance range.

Swiss Re debuted in Asia this week with a S$350m ($251.67m) bond that established the European reinsurer in the Singapore market. It also paved the way for more issuance from the firm.

Mapletree Industrial Trust raised S$410m ($295.4m) on Tuesday after strong demand enabled the Reit to boost the size of a placement.

Singapore’s Keppel Infrastructure Trust and Cleantech Solar have raised S$700m ($502m) from a sustainability-linked loan and $75m from a green loan, respectively.

Mapletree Industrial Trust is looking to raise at least S$350m ($251.5m) from an issue of primary units.

China National Petroleum Corp (CNPC) has returned to the dollar bond market after a six year absence, selling a three-tranche deal that generated $21bn of orders at the peak.

A spate of real estate and government-linked borrowers from Greater China flocked to the dollar bond market on Tuesday.