Asia Pacific

The Indian government has offloaded 2% of its stake in ITC, the country’s largest cigarette maker, raising Rp67bn ($995.2m) and coming closer to its divestment target for the financial year, according to a banker on the deal.

China Grand Automotive is looking for a $591m equivalent syndicated loan facility, less than two months after it raised funds from the bond market.

UBS has a new head of technology, media and telecom (TMT) for Asia Pacific, hired from SMBC Nikko.

The Indian Green Bonds Market Development Council, a public-private initiative, launched its 2017 programme on Tuesday to build the country's green debt market to meet national climate objectives.

The PBoC skipped another reverse repo operation today, tightening liquidity conditions further. However lower fixings have supported better offers in swaps. Data-related receiving in 5-years has fuelled a corrective flattening move in the 1s/5s NDIRS slope after the curve made new highs earlier this week, writes Deirdre Yeung of Total Derivatives.

China Singyes Solar Technologies Holdings has become the latest energy name to venture out to the Asian debt market, taking bids for its debut dollar bond on Wednesday.

China Construction Bank (Europe) launched its new euro notes on Wednesday morning, becoming the third Chinese lender to hit the G3 debt market this week.

Vodafone has hired banks to arrange a 30 year US dollar Formosa bond, as corporate issuers get stuck into a market that has been teeming with bank trades this year.

Star Energy Geothermal has enlisted three lenders for a $660m dual tranche loan that will go partly towards funding the company’s purchase of a stake in Chevron’s Indonesian assets.

India’s Neerg Energy sold a $475m green bond on Monday — the second green dollar transaction from Asia this year. The deal introduced a new structure to the market, but investors’ concerns were allayed by the issuer’s robust credit story.

Bukit Makmur Mandiri Utama (Buma), which services Indonesia's coal industry, pulled in an impressive $2.2bn book for a $350m bond this week, after taking care to meet investors and address their concerns about its relationship with defaulted miner Berau Coal.

Genesis Colors, which owns luxury Indian brands Satya Paul and Bwitch, has secured approval from the country’s market regulator to go public via a Rp6.5bn ($96.5m) IPO.