Asia Pacific

State-owned China Minmetals Corporation on Wednesday rolled out a dollar-denominated perpetual bond, raising $1bn from the deal. The company was able to price at a tight level, especially when its low step-up is taken into account.

India’s Mahindra & Mahindra Financial Services has hired four banks to manage a Rp10bn ($155m) primary capital increase this year, sources close to the matter said.

A trio of Chinese firms begun pursuing IPOs in the US this week that could raise more than $1bn between them.

The Canadian subsidiary of Korea National Oil Corp priced a $200m tap of its five year bonds to help fund one of its projects, and managed to price 12.5bp inside where the original notes came in September.

Busy seasons get the best of all of us. The sleep deprivation, the late nights of mixing caffeine and booze, and the camaraderie we bankers feel working to exhaustion as part of a team is something I dearly miss.

China has not done enough to ease the concerns of international bond investors about onshore market access and risk — a failure which is set to torpedo the chances of Chinese bonds of entering Bloomberg-Barclays Global Aggregate Index this year, a Goldman Sachs economist has said.

Property giant China Vanke Co and HNA Group Co came to the market on Thursday with dollar bonds, taking vastly different approaches. Vanke opted for a tenor of 10 years, but HNA kept it ultra-short.

ANZ has promoted Chris Raciti, a senior loans banker who looked after North Asia, to CEO of its Korean arm, the bank said in a press release on Wednesday.

An overnight equity block trade in Malaysia’s Sapura Energy bagged MR859.1m ($203.7m), enabling the vendor to sell the last of its stake.

Indonesian power producer Indika Energy launched a dollar bond on Thursday, turning to investors more than a month after a roadshow for the proposed transaction.

China Literature has priced its listing at the top of guidance, raising HK$8.3bn ($1.06bn) after closing the books hundreds of times oversubscribed.

A shareholder in Malaysia’s Sapura Energy is looking to exit from the company with a sell down that could raise as much as MR901.5m ($212.9m).