Asean

Rizal Commercial Banking Corp (RCBC) has wrapped up its second offering in the dollar bond market this year, finding strong interest from onshore and offshore investors thanks to a rating upgrade from Moody’s.

Golden Meditech has closed its HK$985.70m ($127.19m) rights issue with shareholders taking up just 69% of the transaction, forcing its underwriter to absorb the remaining shares.

Malaysian telecommunications company Axiata Group has mandated banks for its first Islamic bond in more than three years.

VietinBank, one of the four largest state-owned commercial lenders in Vietnam, has doubled the size of its latest borrowing to $200m after fully exercising a greenshoe option.

The central bank of Laos is making its debut in the syndicated loan market for a facility of $100m-$200m, as the country seeks to diversify its funding sources.

Beijing Automotive Group (BAIC) and Rizal Commercial Banking Corp (RCBC) are venturing into the international debt market, opening books for their respective euro and dollar bonds.

Wenzhou Kangning Hospital Co is set to pre-market its $100m Hong Kong IPO on October 26, with investor education slated to run for about two weeks before bookbuilding starts.

Sino-Singapore Tianjin Eco-city (SSTEC) has completed its debut foray into the offshore bond market this week, raising Rmb1bn ($157m) from a three year offering. The debutant was able to piggyback on the success of recent dim sum outings from Chinese financial institutions.

The Vietnam government’s prized stakes in 10 firms are up for grabs, as the state looks to sell down its holdings in the country’s largest dairy producer, a telecommunications firm and an insurer among others.

The Securities Commission Malaysia (SC) is fine-tuning its rules for IPOs of mineral, oil and gas exploration or extraction (MOG) firms, following in the footsteps of several bourses in the region. The proposal brings Malaysia closer to international standards for MOG listings, but has elicited mixed responses from industry participants, writes John Loh.

Julius Baer has announced plans to issue a Singapore dollar-denominated Basel III additional tier one (AT1). If it goes ahead with the deal, the Swiss firm will be the first foreign bank to issue an AT1 in the city state.

Westpac has appointed Sneha Sanghvi as its new head of financial markets for Asia, replacing Michael Bass who is relocating to the bank’s London office.