Singapore

Insurance Australia Group (IAG) has launched the first catastrophe bond out of Singapore, as the Lion City seeks to become a hub for insurance-linked securities (ILS) by offering grants to issuers.

Ecom Agroindustrial Asia, the Singaporean business entity under Swiss commodities trader Ecom, has returned to the international loan market for its annual borrowing.

Singapore Power, a government owned electricity and gas distributor, grabbed investor attention on Wednesday and raised $600m from a rare trip to the international bond market.

An investor protection deal between the EU and Singapore, approved by the European Parliament last week, would make sovereign debt restructurings harder for governments to manage, according to industry observers.

South Korean supermarket chain Homeplus Stores is nearing a $1.5bn real estate investment trust listing. The deal deserves attention in its own right. But it also serves as a stark reminder that Singapore, once the quintessential Reit listing venue in Asia, has fallen from grace.

China Forestry Group has returned to the offshore market, raising its second international loan through a Singaporean subsidiary.

Singapore-listed Mapletree Industrial Trust (MIT) has bagged S$201m ($147.9m) after upsizing an overnight unit placement on the back of strong early demand.

Barclays has made two hires in its FX trading and distribution team. This included appointing another FX specialist who used to work for Deutsche Bank.

Chongqing Banan Economic Park Development and Construction Co made its inaugural appearance in the international bond market with a Singapore dollar transaction, raising S$150m ($110m).

Singapore’s Interplex Holdings has returned for a $400m five year loan to refinance a 2016 borrowing that supported its acquisition by Baring Private Equity Asia.

Logistics real estate developer ESR Cayman turned to the Singapore dollar market this week to bring down its cost of funding, adding S$150m ($110m) to its coffers.

Law firm Ashurst, which operates in Singapore through its foreign law alliance Ashurst ADTLaw, has appointed Michelle Phang as co-lead of its corporate transactions team in the city-state.