Asia Pacific

Malaysian mortgage and securitization firm Cagamas raised $350m from its latest three year bullet, despite surprise market volatility that nearly caused the issuer to pull the deal.

Leoch International Technology is in the market for a $150m fundraising that launched into general syndication via three mandated lead arrangers and bookrunners.

Beijing-based Poly Culture Group Corp is seeking shareholder approval for an H-share placement that could raise around HK$1.1bn ($138.8m), according to a filing with the Hong Kong Stock Exchange.

China Orient Asset Management International Holdings is deciding whether to increase the size of its $300m loan after attracting a blowout response in syndication.

The Indian government has launched its first divestment of the 2017/18 fiscal year, a sale of National Aluminium Company shares, and investors have jumped at the offer.

Standard Chartered has created a new unit to house its private financial markets business, to bring more focus to its debt product structuring and distribution.

Korea Resources Corporation, or KoRes, wrapped up its annual return to the dollar bond market with a $425m five year transaction. However, bankers said the issuer paid up due to tensions on the Korean peninsula and an unexpected imminent UK election.

Citi has made two new hires from rival banks for its newly-formed resources, infrastructure and utilities group in Australia and New Zealand.

Stock Connect investors are demanding a multi-broker delivery versus payment (DVP) solution to limit counterparty risk issues that have thrown up by the different settlement cycles, Cindy Chen, country head of securities services at Citi, told GlobalRMB. Brokers are lining up to the join platforms despite the competitive challenges.

India’s Rural Electrification Corp has extended the deadline for its latest request for proposals for a $200m syndicated facility by a week to next Monday.

Wednesday proved yet another robust day for Asian bonds, with rubber company Halcyon Agri Corporation, Industrial and Commercial Bank of China’ Singapore branch and Chinese developer Times Property Holdings out for funds in the primary market.

Embattled China Hongqiao Group’s banks have given it a reprieve from a credit crunch, after consenting to a covenant waiver on its $700m syndicated loan.