Asia Pacific

Indian non-bank lender Dewan Housing Finance Corp is back in the loan market with a $125m three year refinancing via two leads.

South Korea’s Hyundai Capital Services timed its $600m outing well, thriving on its strong name recognition and the variety it added to the debt market to put together a fairly priced deal.

Indian Oil Corp (IOC) has opened a $300m five year borrowing into general syndication, offering three levels of participation to incoming lenders.

The China Securities Regulatory Commission (CSRC) touted its reform credentials last weekend, saying that IPO approvals will continue as stability returns to the market. But the regulator should not overplay the effect of short-term fixes. China’s equity market is still waiting for the true test of market-based reform.

A subsidiary of Providence Equity Partners has raised Rp12.9bn ($193.3m) by offloading its remaining stake in Indian mobile network operator Idea Cellular, despite contrasting views on the stock posing a challenge to the block sale.

China Development Bank became the latest name to take advantage of a liquidity-abundant market, snapping up $3bn-equivalent from three floating rate tranches in two currencies — in one of the largest FRN trades out of Asia.

Shimao Property Holdings is diversifying its Panda bond funding channels into the interbank bond market, having filed for a Rmb8bn ($1.17bn) programme with the National Association of Financial Market Institutional Investors.

Singapore-based instant beverage and food producer Viz Branz Holdings has kicked of investor education for its potential S$300m ($213.7m) IPO, according to a banker close to the deal.

Three issuers from the aircraft industry, Grand China Air Co, China Aircraft Leasing Group Holdings and Hong Kong Express Airways, hit the runway for their respective dollar offerings on Tuesday morning.

Officials at the China Securities Regulatory Commission (CSRC) said on Sunday that they will continue approving IPOs at a faster clip as stability returns to the market.

The State Administration of Foreign Exchange (Safe) has followed up on a promise made at the end of last year, announcing on Monday that foreign institutional investors are now allowed to enter the onshore FX derivatives market.

The company behind Chinese social media platform kktv5.com, Hangzhou Mi Lu Technology Co, is vying for a Hong Kong listing as soon as this year, according to a banker that pitched for the IPO.