Asia Pacific

A $235m three-tranche financing for private equity firm Partners Group’s acquisition of Philippine business process outsourcing company SPi Global has gathered commitments from five lenders.

China Chengtong Holdings Group debuted in the debt market on Tuesday, sealing a tight $500m deal as the state-owned operating company transitions to a new entity. But its foray wasn’t without questions, as bankers and investors debated the unrated credit’s status as a corporate or a financial.

Asian issuers are racing against the clock to push out new bonds, taking advantage of abundant liquidity and historically low yields. But with summer fast approaching, issuers — particularly high yield debut names — should go back to basics.

Hong Kong-listed Beijing Properties (Holdings) has approached banks for a $200m fresh money syndicated loan.

In the latest Clawback, columnist Philippe Espinasse dissects the IPO approval and rejection process in Hong Kong, as the city’s licensed bankers play musical chairs.

The Hong Kong Stock Exchange (HKEX) is planning to launch a platform for pre-IPO funding of early stage companies using blockchain technology next year, its chief executive said this week.

Hong Kong-listed Sunac China Holdings has set its sights on the debt market for a dual tranche dollar bond, one week after sealing a HK$4.03bn ($516.2m) top-up placement.

HNA Commercial Reit is searching for arrangers for its Singapore IPO after Bank of America Merrill Lynch pulled out from the deal. But the real estate investment trust’s listing may have to wait until its troubled parent can rebuild confidence in its name, said a source close to the transaction.

The Singapore Exchange has admitted its 59th derivatives trading member, I-Access Investors, which is based in Hong Kong.

Westpac this week followed Canadian Imperial Bank of Commerce in taking advantage of a glut of sterling covered bond liquidity. It issued a sizeable five year sterling covered bond which is expected to provide cheaper funding than the euro or dollar equivalent, boding well for additional supply.

BMW Automotive Finance (China) Co is planning its second outing in China’s auto loan asset-backed securities market this year, with book building for the Rmb4bn ($595.7m) Bavarian Sky China 2017-2 set to start next week.

China Resources Land plans to issue its first mortgage or management fee-backed securities by the end of 2017, chief financial officer James Yu has told GlobalCapital Asia's sister publication GlobalRMB.