Asia Pacific

South Korea’s Shinhan Bank braved the dollar market on Wednesday for the second time this year, hoping to secure a new Basel III tier two dollar bond while North Korea-related volatility looked quiet.

Chinese retailer Red Star Macalline Group Corp launched its dollar debut on Thursday, about five months after mandating banks for the deal.

South Korean private equity firm JKL Partners has raised W170.3bn ($150.3m) after offloading a chunk of shares in Pan Ocean Co, with an early non-deal roadshow putting the deal on a solid footing.

Malaysian companies have finally started taking steps towards sustainability, about three years after the country put together its SRI sukuk framework. The potential for growth is huge, and with the right encouragement and a conscious partnership between Islamic financing and sustainable goals, Malaysia can make itself a leading green market.

A chunky $4.108bn leveraged buyout financing, for the acquisition of Global Logistic Properties by a consortium of Chinese investors, has entered into general syndication.

Postal Savings Bank of China Co has mandated 21 banks to work on a dollar AT1 transaction worth up to Rmb50bn ($7.4bn), expected to hit the market as early as next week.

South Korean asset manager Poseidon 2014 has launched an up to W174.1bn ($154.3m) block sale of shares in shipping services provider Pan Ocean Co.

Korea Development Bank made a strong statement to the market with a $1bn triple-tranche deal on Tuesday, despite some investors being wary about North Korea and others balking at the price.

Ample demand allowed Bank of Qingdao to price its inaugural additional tier one dollar bond tightly on Tuesday. The deal stood out because of the bigger participation from non-Chinese investors — something that bodes well for the hefty AT1 pipeline.

Rating: B3/B- (Moody’s/S&P)

ABC International Holdings tackled its looming maturities head on with a $500m three year bond on Tuesday, finding favour among investors thanks to fair pricing and its rarity value.

Sino-Ocean Group Holdings leveraged on its stronger sales performance and credit metrics to storm into the debt market on Tuesday, showing that it has put a short but tumultuous period behind it.