Asia Pacific

Four years after Abenomics was implemented, and following ratings downgrades in 2015, prospects are beginning to improve for Japan’s top credits. With the financial year starting in April there are reasons to be positive. Foreign investors are returning to the Japanese debt market, the economy is showing some improvement and companies are ramping up their funding targets. GlobalCapital sat down with senior officials from some of the most highly regarded issuers in Japan, as well as respected bankers, to find out about their fundraising plans and how they will approach the debt markets.

Japan’s economic and political stability is making its domestic credit markets an attractive haven in light of political uncertainty in Europe and the US. With global monetary policies diverging, Japanese debt is becoming an attractive proposition for an increasing number, and variety, of overseas investors, writes David Bell.

Commonwealth Bank of Australia (CBA) sold one of the largest climate bonds an Australian bank has ever sold in the domestic market this week, as the nation’s lenders ramp up issuance in the format.

Industrial and Commercial Bank of China is back in the market with a dual tranche deal carrying three and five tenors, set to be issued through the firm's leasing arm.

Fujian Yango Group sealed its inaugural international bond on Tuesday, snapping up $300m from a guaranteed bond. A quiet debt market in Asia worked in the issuer’s favour, but it still had to pay a premium for its unrated status.

Bharat Petroleum Corp (BPCL) has extended the deadline for responses to a $150m request for proposals sent in mid-March.

Chinese gold miner Zhaojin Mining Industry Co has raised HK$1.2bn ($156.0m) through a private placement of H-shares, according to a filing with the Hong Kong Stock Exchange.

China Huiyuan Juice Group has sealed a slightly larger than planned syndicated loan of €160m with four banks. A few more lenders are still set to join, which will further bump up the fundraising, according to a source.

Korea Expressway Corp and JSW Steel have mandated banks for new international dollar deals as the first quarter draws to a close.

Nomura has promoted Prabhat Awasthi to the position of head of India, according to a press release from the Japanese bank on Wednesday.

China Boqi Environmental Co has begun soft sounding investors for its planned $100m Hong Kong IPO, according to a source familiar with the matter.

Moscow Exchange (Moex) and Dalian Commodity Exchange have agreed on a memorandum of understanding.