Asia Pacific

International Finance Corp has made its first appearance in the Singapore dollar market in seven years. Its new treasury hub allows the supranational to give greater attention to Asian markets, the borrower’s Flora Chao told GlobalCapital Asia.

A unit of e-commerce platform Cogobuy Group has close to doubled the size of its debut syndicated loan to $194.5m following an oversubscription from nine banks.

China Resources Pharmaceutical Group priced its Hong Kong IPO near the middle of expectations on Friday morning, raising HK$14bn ($1.8bn) after investors stormed into the trade.

China Great Wall Asset Management Corp priced a dual-tranche offering on Thursday, finding strong demand for its deal. The relatively small size and the timing of the transaction worked in favour of the bad debt manager, according to bankers.

Delhi International Airport’s decision to launch its bond a month after wrapping up roadshows paid off, with the new 10 year cinching global interest and a more than 6.5x covered book.

The Indian government is looking to add around Rp22bn ($329.6m) to its coffers with a sell down of a portion of its stake in construction company NBCC.

Standard Chartered Bank (Hong Kong) is set to become the first commercial issuer of special drawing rights-denominated bonds. The group’s head of capital markets for Greater China and north Asia told GlobalRMB that the notes are testament to StanChart’s commitment to develop the renminbi markets.

In this round-up, The BRICS bank announces its lending target for the next year, two US banks compete for RMB clearing role in New York, and China Construction Bank Tokyo gets admitted to the onshore foreign exchange market. Plus, a recap of our coverage this week.

Home to the world’s largest capital market, the US has what it takes to redraw the global heat map of renminbi internationalisation (RMBi) now that it has been awarded a clearing bank and the world’s second largest RMB investment quota. Yet this potential could be squandered by the upcoming presidential elections unless market forces prevail.

Chinese property names are trickling back into the syndicated loan market, with Shui On Land becoming one of the first mid-size borrowers to access the market this year. The credit is appealing to banks on a standalone basis, but early signs show that appetite for the sector has also improved. Shruti Chaturvedi reports.

US election jitters are weighing on Asia’s equity and debt capital markets, leaving bankers split over the best course of action for issuers before the November 8 vote. Some are advising clients to make full use of the next fortnight, while others are advocating hanging back and rolling with the punches in the aftermath of the result. John Loh reports.

Industrial and Commercial Bank of China’s New York branch was forced to scrap a 10 year portion of a dual tranche bond on Monday because of a disagreement with investors over what it should pay. But all was not lost, as the issuer decided to make the most of the demand for the shorter tenor, taking home $1bn in the end, writes Addison Gong.