Singapore

Keppel DC Real Estate Investment Trust has launched a one-day sale of new units to raise up to S$235.4m ($171.3m) to fund the purchase of two Singapore properties.

Asia’s IPO market burst into life this month, with issuers in Hong Kong, South Korea, Singapore and the Philippines testing investor appetite for their listings. While the resurgence is welcome after a bleak year for issuance so far, it is likely to be short lived, with a lot also resting on early movers’ performances.

ANZ has made some changes to its infrastructure financing team in Asia, relocating Gareth Coleman to Singapore from Cambodia.

BOC Aviation and Clifford Capital navigated choppy market conditions successfully on Tuesday to raise dollar bonds from investors.

Singapore-listed real estate company City Developments has raised a S$250m ($180m) loan to promote the United Nations’ Sustainable Development Goals (SDGs) through innovation. The company said it is the first deal of its kind.

James Gifford, who was founding executive director of the UN Principles for Responsible Investing, has joined Credit Suisse in the newly formed position of head of impact advisory.

Agricultural Bank of China Singapore branch has raised a $200m green loan from seven banks, following in the footsteps of peer ICBC London, which signed a mandate letter for a green loan three months ago.

Lendlease Global Commercial Real Estate Investment Trust, a Singapore Reit sponsored by its Australian parent Lendlease, started sounding out investors for its IPO on Monday.

PSA International, the Temasek Holdings-owned port operator, seized $500m from its return to the dollar bond market after a three year hiatus. It priced the 10 year deal right around fair value, thanks to its opportunistic timing and strong credentials.

Switzerland-based UBS Group has priced its second Singapore dollar-denominated Basel III-compliant additional tier one (AT1) bond in just nine months, taking advantage of a rally in its deal from last November.

DCM bankers in Asia have used a quiet August to prepare new bond deals for next month. But despite most bankers’ optimism that the coming weeks will be busy, many believe the second half of 2019 will be quiet compared with the same time last year as the market gets battered by volatility. Morgan Davis reports.

Louis Dreyfus Asia has boosted the size of its annual borrowing to $650m from $500m after receiving commitments from 31 lenders.