Asia Pacific

BOC Aviation is out with a $1bn borrowing, opening the dual tranche deal into general syndication on Tuesday, according to bankers.

Taiwanese electronics company Foxconn (Far East) has set its sights on a dual-tranche dollar offering, launching the bond on Wednesday morning in Asia.

Hong Kong’s Jacobson Pharma Corp has wrapped up bookbuilding for its IPO, bagging HK$659.4m ($85m) following a strong turnout from long-only accounts.

China’s Industrial Bank took advantage of a quiet primary market on Tuesday, bagging $1bn from a dual trancher. Given the softer tone this week, the issuer went out with realistic expectations on pricing, which was key to the transaction’s success, according to bankers.

It has been 10 months since Malaysia received its renminbi qualified institutional investor (RQFII) allotment from China yet not a single institution from the southeast Asian country has been able to attain a licence. However, the lack of progress is about to end with several market participants telling GlobalRMB they are confident the first RQFII licence could be awarded by the end of the year.

The US Commodity Trading Futures Commission's split over whether to accept Japan's uncleared margin rules as equivalent to the US was not an ideal outcome. But the decision, however contentious, is a pragmatic step which will motivate further convergence between regulatory regimes.

The Australian Office of Financial Management (AOFM) has said it intends to issue the Australian government's first ever 30 year benchmark bond in October.

ANZ New Zealand took advantage of a slight back-up in yields and a scarcity of seven year covered bonds to issue a well oversubscribed deal on Tuesday.

The prospect of the first international bank capital trade from India is closer with State Bank of India on the road this week for a dollar-denominated additional tier one. While it has picked a good window, it needs to get the pricing right or risk derailing the rest of the market.

Chinese healthcare and education names are flocking towards Hong Kong for IPOs, with the most recent filings coming from New Century Healthcare Holding Co and China Yuhua Education Corp.

Prosperity Real Estate Investment Trust opened a HK$1.95bn ($251.51m) borrowing into general syndication on Tuesday to raise fresh funds for an acquisition in Hong Kong.

Bank of Communications Co is set to ask for shareholder approval for its $300m spin-off and listing of its investment banking subsidiary BoCom International in Hong Kong.