Asia Pacific

Korean Air Lines (KAL) has become the first high yield issuer from the country to sell an international bond in nearly four years. Its $300m inaugural standalone deal is also evidence of Chinese banks slowly gaining clout in the region, with BOC International (BOCI) becoming the first Chinese firm to lead a Korean offering on a sole basis. Addison Gong reports.

Chinese property developers are increasingly looking at 364 day bonds as a way to sidestep approval delays from the National Development and Reform Commission, after Fantasia Holdings Group Co sold a $350m public note this week. Short-term bonds offer a quick fix for borrowers, but there are concerns over whether this is sustainable in the longer run, writes Addison Gong.

Celltrion Healthcare has firmed up the price range for its up to W1tr ($897m) flotation on South Korea’s Kosdaq, with bookbuilding set to kick off in mid-July.

HRnetGroup priced its S$174m ($126m) Singapore IPO at the top of the indicative range on Thursday as investors bought into its “phenomenal entrepreneur story”, said bankers.

A recent flurry of loans from southeast Asia has raised hopes of a stronger third quarter for deal volume following a dismal first half, with borrowers from the consumer sector and FIGs expected to seek financing. While the uptick is more than welcome, a couple of big ticket acquisition-related trades will be necessary to move the needle, writes Shruti Chaturvedi.

Optoelectronic display manufacturer Tunghsu Group Co wrapped up its inaugural offshore deal on Wednesday, finding support from domestic and international accounts, despite operating in a relatively unfamiliar industry.

State Bank of India, which wrapped up a $500m syndication with 21 lenders this week, is already eyeing a new borrowing of about the same size, said bankers.

We’ve all had our moments of celebrating a bit too hard and imbibing a tad too much. Normally, the worst that happens is a rough morning in the office the next day. But for a friend of mine, a few cheeky drinks proved disastrous.

Fosun International-backed Sisram Medical is looking to list in Hong Kong for around $200m, filing a draft prospectus on Wednesday.

Singapore IPOs are heating up as NetLink Trust began drumming up interest on Tuesday for a $1.5bn IPO, set to be one of the country’s largest this year, with AEP Reit expected to follow soon.

Deutsche rejigs loans team — Citi makes senior appointments — Goldman in Aussie push — UBS loses DCM syndicate banker — RHB, AmBank kick off merger talks

Guangzhou Rural Commercial Bank Co’s HK$8.34bn ($1.07bn) Hong Kong IPO is covered after three Mainland investors lent their support as cornerstones.