* Trust set to debut in Singapore on May 29
* Soros, Och-Ziff among cornerstone investors in $1.1 bln IPO
SINGAPORE May 2 (Reuters) - Asian Pay Television Trust (APTT), backed by funds linked to Australia's Macquarie Group Ltd, plans to raise up to $1.1 billion in a Singapore IPO, betting on investor demand for high-yield securities to finance the purchase of Taiwan's third largest cable TV operator.
The deal comes ahead of a slew of listings from business trusts and real estate investment trusts (REITs) expected in coming weeks in the Asia Pacific region.
The trust is offering 942.63 million units at a maximum price of S$1.00 unit, while cornerstone investors such as Eastspring Investments, Och-Ziff Capital Management Group LLC , Neuberger Berman and George Soros' Quantum Partners have agreed to buy 451.07 million units, according to a preliminary prospectus filed on Thursday.
APTT is looking to raise S$1.38 billion ($1.12 billion), forecasting a yield of up to 7.3 percent for the year ending December 2013 and 8.25 percent for 2014, the prospectus said.
About 80 percent of the IPO funds will be used to buy the stakes held in TBC Group, which offers cable television and broadband Internet in Taiwan, from the Macquarie International Infrastructure Fund Limited and MKOF Media Investment Limited, another Macquarie fund.
The remainder of proceeds will be used to pay down debt, the listing expenses and for cash awards to TBC Group's senior management. The trust is slated to debut on May 29.
Companies and trusts have lined up to raise $10 billion from IPOs alone in coming months in the region, not counting billions more expected from follow-on deals, which would make 2013 a banner year for the sector.
JPMorgan and Macquarie are the joint issue managers for the offer. They stand to earn $31 million in commissions from underwriting the IPO, the prospectus said.