Asia Pacific

Commonwealth Bank of Australia drew strong demand for its floating rate five year Australian dollar benchmark covered bond. The fixed rate five year portion managed to get to only half the size of the floating rate piece, while 10 year tranche was clearly more of a struggle.

China’s Huishang Bank Corp sealed a lucky $888m additional tier one transaction on Thursday. The deal was not only the Chinese lender’s inaugural dollar-denominated AT1 but also the first from a city commercial bank in the country.

Bank of China grabbed market attention on Thursday with the inaugural green covered bond from the Mainland. The deal’s unique structure garnered international attention, supporting the country's pursuit of green bond leadership.

Government agency Specified Undertaking of the Unit Trust of India (Suuti) has offloaded a part of its stake in conglomerate Larsen & Toubro via an accelerated bookbuild, raising Rp19.8bn ($296.7m).

In this round-up: RMB indices record a stabilisation of the currency against the trade-weighted baskets, Hong Kong RMB deposits increase nearly 2% in September, and the China cross-border interbank payment system (CIPS) expands to 400 indirect participants. Plus, a recap of our top stories this week.

China Nuclear Engineering Group Co (CNEC) is taking another shot at getting its debut CNH bond off the ground, after pulling a dim sum offering back in December 2015.

HNA Group affiliate Avolon Holdings has wrapped up a $8.5bn debt financing for the acquisition of the aircraft leasing business of CIT Group, with five lenders joining the trade.

SillaJen Biotherapeutics is planning to go public with an eye to raise W205bn ($179.4m), according to a termsheet seen by GlobalCapital Asia.

PNB Housing Finance and Varun Beverages priced their respective IPOs in India at the top of the range this week, fetching Rp41.1bn ($616.9m) between them.

Lenders are working on credit facilities to back the potential acquisition of a stake in Indian company Bharti Infratel by private equity firms.

A mix of local politics and broader market developments may gradually strip Hong Kong of its role as the cutting edge centre for renminbi internationalisation. But that is probably a good development, at least as far as China’s longer-term strategy is concerned.

Indian Oil Corp, is looking to refinance a $300m bridge loan, having picked Citi and DBS to supply it three months ago for an acquisition.