Asia Pacific

In September, a number of issuers have returned to the European corporate bond markets after a number of years without issuing. On Wednesday, German chemicals distributor, Brenntag, Australian property company Goodman, and Austrian steel company, Voestalpine, were the latest to join that list.

Kazakhstan’s KazTransGas has made its debut in the bond markets, raising $750m of 10 year money close to where its state-run owner KazMunaiGas trades.

Chinese investors warmly welcomed Mercedes-Benz Auto Finance’s second outing this year in China’s securitization market, helping the originator raise Rmb4.98bn ($760m) from the senior tranche of its deal.

Kingboard Chemical Holdings is tapping banks for a HK$5bn ($641m) four year borrowing, after a two year hiatus from the loan syndication market.

Singapore power company SP PowerAssets grabbed $600m on Tuesday from a tightly priced investment grade bond that reset its debt curve.

Chinese logistics firm Best raised $450m from its US IPO this week, slicing the deal size by as much as half.

Hong Kong’s Sun Hung Kai Financial had a rousing welcome to its debut in the offshore loan market, raising HK$4.5bn ($576m) versus the HK$1bn it had initially sought.

Beijing Infrastructure Investment Co priced its first dollar bond in three years, raising $700m from a six times covered deal on Tuesday. The notes tightened around 10bp in secondary, putting the spotlight on what some considered generous pricing.

The Export-Import Bank of Korea is continuing the deluge of South Korean issuers venturing offshore, marketing a Singapore dollar transaction on Wednesday morning.

Property developer Sunshine 100 China Holdings, rated CCC+ by S&P and B- by Fitch, is taking bids for a new dollar bond, in a bid to address its looming debt maturity.

Trade between Russia and China has slowed over the last few years, hurt by a depreciating renminbi and domestic economic challenges in both countries. But the trend has now largely reversed — and dealmaking between the two countries is booming.

Swiss energy and commodities trader Mercuria is looking to raise $850m from a triple-tranche facility that was launched earlier this week.