Asia Pacific

News of Otkritie’s bail-out has filled the buy-side with questions about the nature of the Centra Bank of Russia’s recovery plans sending Otkritie’s subordinated bonds yo-yoing between a cash price of 49 and low to mid 80s.

The bookrunners on logistics company Best’s potential $1bn US IPO have kicked off pre-marketing, according to a banker working on the deal.

The Asian Development Bank (ADB) has proposed the creation of national green financing vehicles to give a boost to environmentally friendly and financially sustainable infrastructure investments.

Shanghai-listed Guirenniao Co is looking to pursue a $300m bond, while the National Development and Reform Commission (NDRC) has also approved a handful of other potential offshore issuances.

Volkswagen Finance (China) is preparing to hit the securitization market for the second time this year, only three months after its last transaction. But while the new deal retains some of the key features from VW’s last one, it will be notably smaller, raising only Rmb3.66bn ($554m).

Joy City Property, a red chip real estate developer, has picked two banks to manage its Panda bond debut.

Indian company Srei Equipment Finance is seeking an up to $150m five year loan from the offshore market.

Julius Baer Group is planning to sell its first US dollar-denominated additional tier one (AT1) bond, and will visit Asia and Europe for a roadshow later this week.

Bharat Road Network has set the price range for its up to Rp6bn ($94m) IPO in India, with books slated to open next week.

The Hong Kong subsidiary of Lotte Shopping Co, the retail unit of South Korea’s Lotte Group, kicked open the quiet primary bond market on Wednesday with its first dollar outing in five years.

HSBC’s investment banking head for India has left the firm and is now on gardening leave, according to sources.

The Philippines’ BDO Unibank is back in the dollar debt market less than a year after its last transaction, marking just the second offshore deal from the island nation this year.