Asia Pacific

Nasdaq-listed Weibo Corp has opened books for the sale of up to $800m in convertible bonds, in its first outing to the equity-linked market.

China’s Ministry of Finance (MoF) has criticised international credit rating agencies for their rating downgrades in a statement on October 24, in which it also explained its rationale for issuing the country’s first dollar bond since 2004.

With Swedbank the latest to mandate for a green bond last week, the total issuance of unsecured green bonds by financial institutions in euros could double 2016’s total. At the same time, Oekom Research said that banks made up a higher proportion of its sustainable investment universe than any other sector.

Investors flocked to Press Metal Aluminium Holdings’ inaugural dollar bond sale on Monday, allowing the issuer to walk away with a tightly priced deal nearly 10 times subscribed.

CMIG Aviation has landed for its maiden overseas syndicated loan, with one bank at the helm. The company is seeking $150m for aircraft pre-delivery financing.

China Huaneng Group, one of the country’s biggest state-owned electric utility enterprises, priced a $500m senior perpetual bond on Monday. Execution was smooth thanks to the company’s status as a central state-owned enterprise (SOE) and its market position, but time is needed for it to perform in secondary.

Recent deals are breathing life into a dim sum bond market that has faced a drought in supply. And with market conditions turning in the sell side’s favour, more issuers should syphon off this renminbi funding stream.

CCB Frontier Capital (Hong Kong), the overseas arm of financial services firm CCB Trust, is tapping the international syndicated loan market for the first time, for a $200m borrowing.

PP Presisi, subsidiary of Indonesian state-owned construction firm Pembangunan Perumahan, has kicked off bookbuilding for its potential Rph2.3tr ($172.3m) IPO.

HSBC has taken two veteran bankers from rival firms to drive its combined strategic equity financing and equity-linked businesses in London and Hong Kong.

HSBC has appointed a new chief executive for HSBC India, effective December 1.

Deutsche Bank has hired a senior executive from a rival to lead its technology, media, and telecom investment banking efforts in Asia Pacific.