Asia Pacific

Indonesian power house Indika Energy sealed a $575m bond on Thursday, weeks after securing a consent offer from its existing investors. With its new funds, the company will be able to close its recent acquisition of Kideco Jaya Agung.

Indian agrochemical producer Crystal Crop Protection has lined up a quartet of local and international firms to lead its potential Rp10bn ($154.8m) IPO, according to a banker on the mandate.

Chinese property giant China Vanke Co has priced a 10 year deal around fair value, taking $1bn out of the market. The company made the most of a strong name recognition and some rarity value, making just its third issue in the offshore bond market.

The Ministry of Commerce (MofCom) completes the first draft of foreign investment law, regulators give BEA Union Investment Management the go-ahead to launch a wholly foreign owned enterprise (WFOE) in Shenzhen, and Renmin University’s vice president claims the renminbi will be fully convertible within five years.

Mainland firm Harvest Property Holdings is looking to join its peers south of the border, with a plan to float on the main board of the Hong Kong Stock Exchange.

Red chip issuer Yuexiu Transport Infrastructure is preparing to sell its first Panda bond in the interbank bond market, having filed for a Rmb2bn ($302.7m) issuance programme this week.

ASM International has pocketed HK$4.1bn ($526.4m) after offloading a chunk of ASM Pacific Technology stock, pricing it toward the top end of guidance.

Hong Kong-listed Huarong International Financial Holdings is gearing up for a Rmb2bn ($302.7m) Panda bond private placement, which would mark the financial issuer’s first outing in the asset class.

China YuHua Education Corp raised HK$936.7m ($120.1m) from a quick return to the equity market after listing in February.

China Eastern Airlines Corp has named banks to lead its first Singapore dollar bond, with a roadshow being held next week.

South Korean budget carrier Jin Air expects to raise as much as W381.6bn ($343.0m) with its IPO, which launches at the end of the month.

The European Financial Stability Facility should aim for a bond in the 10 to 12 year part of the curve if it wants to complete its funding for the year next week, according to an SSA syndicate official. Other upcoming euro supply includes Auckland Council.