Asean

A spike in Asian green bond issuance this year has not yet spurred the use of the instrument by borrowers in the Asean region, where the conventional debt markets already face challenges as they develop. But credit enhancements and strong precedents from neighbouring countries could help generate more green activity in southeast Asia, writes Christina Khouri.

French banks Natixis and BNP Paribas have rejigged their Asian loan syndication teams.

Oversea-Chinese Banking Corporation has priced a S$500m ($356m) perpetual non call five, the bank’s first additional tier one (AT1) offering. Deal-hungry investors came in strong for the Lion City’s first AT1 in almost two years.

International Container Terminal Services (ICTSI) provided a breath of fresh air to Asia's bond market this week thanks to its $450m perpetual deal. The lack of issuance this year from Philippine borrowers worked in the company’s favour, with the trade opening up an opportunity for more perps to follow.

After the uneasy calm that fell over equity markets following China’s devaluation of the renmimbi last week, investors got another rude shock on Tuesday when Shanghai stocks tumbled 6.2%, prompting bankers to mull over the possibility of pulled deals.

Tiphone Mobile Indonesia has hit the market for a dual currency financing of $184m, with four mandated lead arrangers and bookrunners. The leads have gone out to a limited number of banks for syndication.

Oversea-Chinese Banking Corporation (OCBC) has started taking orders for a benchmark-sized Basel III compliant additional tier one (AT1) offering.

Bank of Communications (BoCom) Financial Leasing and International Container Terminal Services (ICTSI) were back in the offshore bond market on August 18.

Al-Salām Reit has begun sounding out its MR252.36m ($64.69m) IPO in Malaysia to investors, with the company’s Shariah-compliant status expected to give it some buffer against the current macro and political uncertainties plaguing Malaysian stocks.

Hong Kong-listed Chong Hing Bank is bringing a rights issue to investors as it seeks to bolster its capital position. The lender plans to issue one rights share for every two existing shares, which will raise HK$3.71bn ($478.64m).

International Container Terminal Services (ICTSI) has named three banks to lead its upcoming, benchmark sized US dollar perpetual bond.

BNP Paribas has hired an associate for its southeast Asia loans team, GlobalCapital Asia understands.