Asia Pacific

BOC Aviation is out with a five year bond while Industrial and Commercial Bank of China Dubai branch is making a swift return to the market with a euro offering following a dollar outing on Monday. More deals are also in the pipeline.

VPBank Finance, the consumer finance arm of state-owned Vietnam Prosperity Bank, has raised the size of its syndicated loan to $150m. The deal was initially signed at $100m late last year, with the amount now increased after more banks came in.

Bright Scholar Education Holdings, which is set to price its $150m US float at the end of Wednesday, has received a big thumbs up from investors.

People’s Bank of China has given the green light to the Bond Connect scheme, which banks expect will launch in early July. However, investors using the CIBM Direct scheme will be shut out from the new link to China’s $9.4tr bond market, GlobalRMB has learned.

JP Morgan has named new heads of equity and debt capital markets for Asia Pacific, as well as co-heads of M&A for the region, according to an internal memo seen by GlobalCapital Asia.

Société Générale started marketing its a non-preferred senior transaction in yen on Tuesday, as French banks flood back to calmer markets following Emmanuel Macron’s victory in the country’s presidential election.

Hong Kong-listed Flat Glass Group has approached the loan market for a $150m fresh money borrowing with one bank at the helm.

Star Energy Geothermal has wrapped up its $660m dual tranche loan with 13 banks, following a three month syndication. The money was partly for the company’s purchase of a stake in Chevron’s Indonesian assets.

Slower primary issuance in Asia’s syndicated loan market has spurred retail lenders to look for opportunities in secondary — a challenge considering the market is severely underdeveloped. But this is all the more reason for bankers to cultivate a deeper and more expansive market for secondary trading as the move would provide plenty of benefits.

Less than two months since its last ABS outing, SAIC-GMAC Automotive Finance has already set its sights on its second China auto ABS of the year. The four-portion Rmb4bn ($580m) Rongteng 2017-2 Retail Auto Mortgage Loan Securitization is set to open next Monday.

Industrial and Commercial Bank of China Dubai sold a dual tranche $700m deal on Monday, and is looking to quickly follow it up with a planned euro-denominated bond.

MBK Partners has shed part of its stake in South Korea’s Coway Co, netting W370.5bn ($329.8m) with the shares pricing at the bottom of guidance.