Asia Pacific

China’s domestic fixed income market is set for another milestone with National Bank of Canada (NBC) poised to sell a Panda bond on Wednesday – becoming the first North American bank to do so.

Aluminum Corporation of China has re-entered the market with a perpetual non call five dollar bond, opening books on Monday morning.

Bohai Capital Holding Co and Suqian Economic Development Corp have picked banks to arrange their respective international bonds.

China Development Bank Hong Kong gave investors a dual option on October 27, issuing a five year dollar bond and a three year euro deal, finding space in a crowded market that saw six other trades hit the screens.

Japan’s Nippon Steel & Sumitomo Metal Corp has raised W177bn ($154.6m) from the sale of some of its shares in Posco — the third sell-down of its stake in the South Korean steelmaker this year.

PNB Housing Finance is set to price its Rp30bn ($450m) IPO in India at the top of the expected range after investors piled into the trade, allowing it to wrap up with books 30x covered.

Three Chinese corporates hit the debt market on Thursday on a busy day of issuance in Asia. Beijing Capital Development Holdings (Group), Golden Wheel Tiandi Holdings Company and a financing vehicle from Guangxi raised a combined $900m from deals.

Two FIG names were among the seven issuers vying for funds on Thursday with Bank of East Asia and Sirius International both pricing new trades. And the hectic schedule of the last few weeks is unlikely to slow down in November.

Huarong International Financial Holdings has signed a dual-tranche loan at HK$3bn ($515.6m), double the launch size.

In this round-up, the Infrastructure Financing Facilitation Office appoints the first group of partner entities, RMB depreciation boosts trading activity in FX markets, and the RMB qualified foreign institutional investor scheme adds two participants in October. Plus, a recap of our top stories this week.

UBS is being investigated by the Hong Kong Securities and Futures Commission for its role in IPOs, with the bank warning that it faces a possible suspension of its corporate finance licence.

Zhou Hei Ya International Holdings Co is looking to raise HK$3.31bn ($427m) via a Hong Kong IPO, launching the trade on Thursday.