Asia Pacific

Korea Housing and Finance Corporation (KHFC) has mandated lead managers to arrange a roadshow for an Aa1 rated five year dollar covered bond.

Bank of Zhengzhou Co priced its first offshore additional tier one (AT1) bond this week. But although the pricing of the deal appeared to make sense, the transaction drew attention for a number of last-minute changes in the syndicate group, including at the global co-ordinator level.

Indian Energy Exchange has been forced to cut the size of the anchor book on its Rp10bn ($153.4m) IPO after local regulators decided foreign investors could not participate in the deal, said a source close to the transaction.

Edra Global Energy, the Malaysian power producer formerly affiliated with embattled sovereign wealth fund 1MDB, has started sounding out investors for its IPO.

Commonwealth Bank of Australia (CBA) this week raised Sf450m ($462.1m) from the Swiss franc bond market in the largest single tranche Swissie bond by an Australian financial since 2009. The borrower took advantage of the downgrade of a clutch of regular Swiss franc issuers to sell its trade.

Victory City Co has hit the syndicated loan market for a HK$2.6bn ($333m) fundraising with five bookrunners at the helm.

Shareholders in Russia’s United Co Rusal raised HK$2.5bn ($320.3m) through an overnight bookbuild, following a rally in the stock as its parent EN+ Group is seeking a $1.5bn IPO.

Frequent issuer Tewoo Group is readying a comeback to the offshore bond market. It has mandated firms to arrange a roadshow at the end of the week.

Investors rushed toward the Rp113.7bn ($1.7bn) IPO of General Insurance Corp on Wednesday, bringing enough orders to cover over 70% of the book by midday, a show of early demand rarely seen in bookbuilding for an Indian listing.

Malaysia’s Genting Group grabbed an additional $500m on Tuesday from the tap of its debut bond sale earlier this year.

ING has scooped a Deutsche Bank veteran to lead its corporate finance and client coverage divisions in Asia.

Indian lender Yes Bank may increase the size of its latest borrowing, a $200m five year that was aimed at Taiwanese banks, as total commitments have exceeded the base amount.