Asia Pacific

BOC Aviation and BMW set out to sell offshore renminbi bonds on Wednesday, marking a return to the market for both issuers.

Philippines-listed DoubleDragon Properties Corp is gearing up to launch a re-IPO worth Ps7.5bn ($145.6m), aiming the deal firmly at international investors.

United Overseas Bank is making its first foray into the dollar tier one market in more than decade, after approaching investors with an AT1 bond on Wednesday.

Leong Hup International is planning a Malaysia listing that could raise as much as MR2bn ($474m). The company is still firming up the syndicate, according to sources close to the matter.

India’s Canara Bank opened a tap on its existing 2022s on Wednesday, looking to add to the $400m deal.

China Singyes Solar Technologies Holdings started marketing a 364-day dollar bond on Wednesday while Singapore-listed water and wastewater treatment company Citic Envirotech took bids for a new senior perpetual in Singapore dollars.

Like most foreign banks in the Chinese securitization market, Standard Chartered has focused on doing business with foreign originators. But now it wants to compete more directly with local underwriters by entering the growing asset-backed notes (ABN) market, Wesley Yang, the bank’s head of financial markets for China, told GlobalRMB.

Mizuho Financial Group came to the market with a bond financing green projects on Tuesday, becoming the second Japanese bank to do a green euro deal in two weeks.

China Construction Bank has appointed respected senior banker Tian Guoli as chairman and executive director, effective Monday, the lender has said in a Hong Kong stock exchange filing.

Chinese issuers and investors are likely to be largely absent from the dollar bond market for the next few weeks, as the country prepares for a crucial meeting of Communist Party officials. The slowdown will be a good chance for issuers from elsewhere in the region to tap the market — and demonstrate whether Asia’s bond market can remain standing without Chinese liquidity.

Mongolia’s macho new prime minister Ukhnaagiin Khurelsukh is taking the reins of a country that has suffered from excessive debt, a woeful credit rating and a corruption scandal which felled his predecessor. But despite the country’s struggles, his best policy approach may be simply to maintain the current course.

Tata Motors has enlisted six banks for a $850m refinancing exercise that will consolidate two earlier borrowings.