Asia Pacific

The Democratic Socialist Republic of Sri Lanka wowed investors with its new 10 year outing, securing a massive $11bn order book for a $1.5bn deal.

In the latest Clawback, columnist Philippe Espinasse turns his focus to the listing of infrastructure project companies in Hong Kong, saying that IPOs of Belt and Road issuers could be a big challenge.

BoCom International Holdings Co has opened books for its HK$2.1bn ($265.6m) IPO in Hong Kong via a 14 member syndicate, with nearly a third of the shares snapped up by cornerstone investors.

Ant Financial subsidiary Alipay (Hong Kong) Holding will increase the size of its $3bn loan, taken to partly support its bid to acquire Dallas-based MoneyGram, according to bankers. The news comes about a fortnight after Alipay raised its offer for MoneyGram by around $300m.

Landesbank Baden-Württemberg (LBBW) is marketing its first Singapore dollar-denominated transaction, a Basel III tier two subordinated bond, joining a slew of European lenders that have sold deals in the currency.

A senior ECM banker in Malaysia has left RHB Investment Bank to join AmInvestment Bank, taking on a broader role encompassing ECM as well as the entire equities franchise.

Law firm Linklaters is boosting its China presence, hiring two new partners within its corporate and project practices for the Mainland.

News that Volvofinans Bank, the finance arm of Volvo Cars, is planning a green bond backed by its loans on hybrid and other non-fossil fuel cars is a welcome sign of the green awareness spreading across the corporate world.

Volvofinans Bank is preparing to issue Europe’s second green bond from the automotive sector. While the deal is already attracting interest from investors, its use to finance hybrid and electric cars may not tick the green box for all investors.

Volkswagen Finance (China) is returning to the ABS market with its Rmb4.5bn ($652.66m) Driver China six, having sold three auto ABS in the Mainland last year.

India’s government divestment agency has extended the deadline for firms to bid for roles in the Iistings of North Eastern Electric Power Corp (Neepco) and MSTC.

Investors are set to welcome Indonesian government-owned Perusahaan Listrik Negara (PLN) back to the dollar bond market, with the company mandating two firms to work on its issuance.