Asia Pacific

China's Ministry of Finance announced on Tuesday that it will be issuing a total of Rmb14bn ($2.06bn) of offshore renminbi treasury bonds this year, and will also sell its first dollar deal in over a decade in the second half.

Indonesia’s Soechi Lines postponed a dollar bond on Monday because of uncertain market conditions and severe weather in Hong Kong, and it plans to engage with investors at another time. The pulled deal raised questions about whether the pricing on offer was enough to maintain the buy-side’s interest in the first place.

Thailand’s Buriram Sugar has filed for an infrastructure fund listing that could raise $150m, according to sources close to the deal.

China Huarong Asset Management Co is planning to raise funds through a non-public issuance of offshore preference shares.

Metro Pacific Investments Corp (MPIC) launched a trade on Tuesday evening designed to reduce its direct stake in Manila Electric Co (Meralco) while boosting its indirect holdings.

Fantasia Holdings Group Co surprised markets last week with a 364 day bond, opting for a short-term note to circumvent delays in offshore funding approval from the Chinese regulator. At first glance, the notes appear to offer a quick solution for property companies with looming funding requirements — but borrowers should take a closer look at the many disadvantages that come with such short term deals.

Shui On Land priced its senior perpetual bond on Monday in a busy primary market in Asia ex-Japan. The $500m trade was multiple times covered, as demand for perps continues to be strong in the region.

ING Bank has relocated a leveraged finance banker from London to Singapore to head structured acquisition finance and sponsor coverage in Asia.

Korea East West Power Co (EWP) broke back into the market after a three year hiatus, grabbing $500m from a five year bullet on Monday.

Pakistan has signed its largest offshore syndicated loan on record, a $650m one year financing, with a group of 10 banks, said sources.

Astra Sedaya Finance (ASF) has doubled the size of its offshore loan to $300m on the back of demand from 14 banks during general syndication.

Japfa Comfeed Indonesia and Lippo Malls Indonesia Retail Trust wrapped up their fundraisings successfully on Monday while Soechi Lines was forced to pull its debut deal.