Asia Pacific

BMW Automotive Finance (China) Co has tapped China’s auto loan asset-backed securities (ABS) market for the second time this year. The German carmaker bagged Rmb4bn ($595.4m) on August 8, less than a week after another foreign automaker, Nissan’s China joint venture, hit the market.

Singapore-listed Yangzijiang Shipbuilding (Holdings) is seeking a $200m three year borrowing, underpinned by a guarantee from its parent and a Chinese state-owned insurer.

The Hong Kong Exchange (HKEX) will suspend its offering of China ministry of finance treasury bond futures after the end of the year, while no official trading data was disclosed for the Bond Connect scheme in the bourse’s 2017 interim results report.

Country Garden Holdings Co is back in the market with a tap of its 2022 notes sold less than a month ago. Meanwhile, Jiangsu Bicon Pharmaceutical Listed Company is plotting a $300m fundraise from a three year bond.

India’s Cochin Shipyard, one of the few proxies to the defense sector, priced its Rp14.7bn ($230.6m) IPO at the top of expectations after demand trumped supply by an impressive 76.2 times.

Reliance Nippon Life Asset Management has added three bookrunners to the line-up of banks that will manage its IPO in India this year, boosting the syndicate to six.

Hong Kong-listed company Samson Paper is back in the loan market, after a two and a half year absence, for a HK$570m ($73m) refinancing.

Export-Import Bank of India took advantage of reverse enquiry from Taiwanese investors to sell its debut dollar Formosa bond, marking only the second Formosa from the south Asian country and the first from an Indian bank.

Indian telecommunications group Bharti Airtel has raised Rp25.7bn ($403.2m) after offloading a stake in its tower unit Bharti Infratel, selling the shares near the bottom of guidance.

Agile Group Holdings has sold a $200m deal off a robust $2.5bn book, with yield-hungry investors allowing the company to price the notes flat to recent double-B rated real estate bonds.

Indonesia’s Chandra Asri Petrochemical completed the placement portion of its Rph5tr ($378m) rights-plus-block combo on Monday, in a deal that benefited from the issuer’s focus on transparency.

Saka Energi Indonesia, the upstream oil and gas arm of state-owned Perusahaan Gas Negara, has opened its $250m loan to retail participants through a group of six banks.