Asia Pacific

Few would have predicted that in the year following the election of Donald Trump, which was identified by all as a catastrophe for bond markets, the CEEMEA region would record its busiest year to date. But over and above volumes, the range of products and instruments on offer, from an increasingly wide range of issuers, shows the CEEMEA bond market is maturing nicely. By Virginia Furness.

The Asian loan market hasn’t exactly been a hotbed of inventiveness, but it’s still seen some changes. Domestic markets, particularly China, have become vastly more active, while the balance of power in the market has shifted towards local lenders. All, however, are struggling in a world of low margins and low volumes. Adrian Murdoch reports.

South Korean steel giant Posco launched a block in Hyundai Heavy Industries on Monday evening, seeking up to W193.3bn ($170.5m), according to a termsheet seen by GlobalCapital Asia.

Dongying Lufang Metals Material HK has rolled out a $200m syndicated deal with two mandated lead arrangers and bookrunners. It is looking to refinance a one year loan from last year that falls due soon.

India’s Au Small Finance Bank has set the price guidance for its IPO scheduled for later this month, expected to raise up to Rp19.1bn ($296.7m), said a banker close to the deal.

FIT Hon Teng has launched pre-deal investor education for its potential $500m Hong Kong IPO, according to a banker close to the deal.

India’s Adani Ports and Special Economic Zone is gauging investor interest this week for a new 10 year bullet, less than a month after its board approved an up to $1.5bn debt-raising.

Malaysian telecoms company Maxis, controlled by billionaire Ananda Krishnan, has launched a capital increase of up to MR1.7bn ($403m) to reduce its debt and finance future growth.

China Reinsurance Finance Corp is looking to tap its 2022 notes issued in March.

China Securities Regulatory Commission welcomes the prospect of A-share inclusion by MSCI, China’s State Council publishes a new negative list to make foreign investment easier in free trade zones, and the Asian Infrastructure Investment Bank (AIIB) makes its first equity investment.

ING Bank has appointed a new chief economist and head of research for Asia Pacific, following Tim Condon's retirement.

Transport and tourism services provider Zhuhai Holdings Investment has returned to the syndicated loan market after two years for a HK$1.5bn ($192m) borrowing.