Asia Pacific

In this round-up, an ex-IMF economist says China needs an independent central bank, the People’s Bank of China considers changing the RMB trading band, and trade between China and Africa surges in the first half of the year.

Verizon Communications launched its first Australian dollar bond on Thursday. The four tranche deal is the largest corporate bond in the currency this year, raising A$2.2bn ($1.75bn) when it was priced on Friday.

eHi Car Services snapped up $400m from the only dollar bond from China on Thursday, managing to tighten pricing by 37.5bp.

India's Vedanta Resources extended its maturity profile further this week with its second tender plus new money deal of the year. The issuer opted for size over price, leaving a little something on the table for investors.

The once-distressed Gajah Tunggal raised $250m from a new five non-call three deal on Thursday, helping the company prepare to refinance a looming maturity – and potentially earn a ratings upgrade.

Securities and Intelligence Services India has raised Rp7.8bn ($122.5m) after sealing its IPO at the top of guidance, according to a banker on the deal.

Deutsche Bank is arranging an up to $150m syndication for water purification company Ozner Water International Holding, said bankers.

Crédit Agricole has appointed former Barclays banker Silvia Kim as local head of global markets for its South Korean branch, according to an announcement on Friday.

Indonesian power producer Paiton Energy added a hefty $2bn to its coffers on Thursday, selling a dual-tranche bond that won over investors because of its diversity benefits and secured structure.

Canara Bank priced a $400m five year senior bond on Thursday, marking the second dollar deal from an Indian bank in a week.

Chandra Asri Petrochemical’s rights-plus-block combo to raise Rph5tr ($378m) is going smoothly. The leads sent out a 'covered' message on Friday morning.

Indian multinational automobile conglomerate Mahindra & Mahindra is planning to sell a chunk of its logistics subsidiary in an IPO, according to a filing on Thursday.