Asia Pacific

Chinese commodity trader Tewoo Group and retail chain operator Maoye International Holdings are in the market with bonds of less than a year, getting ahead of the Chinese Communist Party’s National Congress meeting that will kick off from Wednesday.

Malaysia’s Press Metal Aluminium Holdings has mandated banks for its maiden foray into the dollar bond market.

China Development Bank Financial Leasing Co began marketing a dual-tranche dollar bond on Tuesday morning local time, as a number of issuers attempt to get ahead of China’s 19th National Congress of the Communist Party meeting taking place on Wednesday.

Baidu-backed iQiyi, a video streaming platform in China, has selected three banks to prepare an IPO in the US, which is expected to raise $1bn-$2bn, according to a banker close to the deal.

Shares in Malaysia’s CIMB Group Holdings have been sold down for the third time this year through an overnight block trade, though at a lower price than the previous two deals.

Singapore-based agriculture company Olam International has secured a $1.75bn revolving credit facility (RCF) with 21 banks.

A $500m borrowing by Indian lender HDFC Bank has attracted four participants during general syndication. Allocations have emerged for the deal, which was signed in September.

Beijing-headquartered Elion Resources Group Co will sell an international bond for the first time, having mandated the joint leads to work on an Asian roadshow and the proposed issuance.

China watchers have struggled to come to terms with the renminbi’s weakness during most of September. But while China’s leaders can sometimes be hard to analyse, the monetary authorities have been pretty clear about their currency policy — and they mean it.

Piramal Enterprises has closed what bankers are touting as the first offering of mandatory convertible bonds in India through a qualified institutional placement, with the deal bagging close to $1bn in investor orders.

Global Logistic Properties returned to the Panda bond market with a five year note on October 13, raising Rmb1bn ($151.8m). But unlike its last issuance in 2016, GLP opted for the interbank instead of the exchange market, as the company searches for longer-term RMB funding for its China business.

China's PPDAI Group, an online platform for peer-to-peer loans, is sounding out investors for its $350m listing of American Depositary Shares on the New York Stock Exchange.