Asia Pacific

China is preparing to challenge South Korea as the tightest-priced sovereign issuer in Asia, as it lines up its first dollar bond in a decade next week. The market expects China to take an aggressive approach for the deal, which could reset the curve for all of the country’s debt issuers. Morgan Davis reports.

China Literature, the e-book subsidiary of Chinese tech firm Tencent, is on track for a red-hot IPO after shadow orders immediately flooded in during pre-marketing. Some smaller companies have already delayed their IPOs to avoid being eclipsed by a deal that looks sure to dominate discussion in the coming weeks. Jonathan Breen reports.

As winter creeps up on us, it is time to celebrate that cherished time of year when people come together in a spirit of love, fraternity, and violent rivalry. Yes, it is awards season.

China will not amend the RMB trading band in the near term, Zhou Xiaochuan, governor of the People’s Bank of China, said on October 19. Zhou made the remarks shortly after the central bank defended its recent changes to the FX rate mechanism in a report.

China Grand Automative Services Co, a car dealership, is readying a return to the international debt market, hiring two banks for a senior perpetual bond.

Zhongrong Xinda Group Co and Jiangsu Nantong Sanjian Construction Group Co (JNTC) are set to make their debuts in the international bond market on Thursday, as Tongchuangjiuding Investment Management Group Co returns for a tap.

The market for credit default swaps (CDS) in China is still in its very early stages, but the government is looking to promote their use and the first foreign bank has already got involved.

Kia Motors Corp is returning to the international bond market, opening books for a dual-tranche 144A/Reg transaction on Thursday morning.

Singapore Exchange (SGX) is stepping up its efforts to attract new listings by partnering with Nasdaq, as Asian issuers increasingly look to tap global investors.

The operator of Hyderabad’s international airport launched its debut dollar bond on Thursday morning, following a global roadshow last week.

China Merchants Bank is marketing its inaugural dollar-denominated Basel III additional tier one transaction, which analysts say is attractive to investors.

Fiji is set to become the third country to issue a sovereign green bond, with a F$100m ($50m) issue in Fiji dollars. The country, highly vulnerable to climate change, has just taken over as president of the COP meetings on climate change.