Asia Pacific

ANZ New Zealand and Natixis Pfandbriefbank have mandated leads to roadshow euro denominated covered bonds.

Poland became the first European country to issue a Panda bond on Thursday, printing a landmark Rmb3bn ($451m) deal. The depreciating renminbi was not enough to put off foreign investors, while the yield pick-up over other sovereign bonds helped ensure a strong order book. Addison Gong reports.

Wanda Commercial Properties Hong Kong has made a rapid return to the syndicated loan market, launching a fresh $500m borrowing barely two months after signing its last facility. Simultaneously, parent Dalian Wanda Group is also understood to be seeking a $700m-$800m club loan, prompting discussions about the company’s appetite for debt. Shruti Chaturvedi reports.

Two accelerated bookbuilds lit up the Asian market this week as equity capital market bankers foresaw brightening prospects for block trades. As one banker said that term sheets for potential overnight share sales were “flying around”, the end of the summer could usher in a bumper harvest of deals. John Loh reports.

Huarong International Financial Holdings is seeking a HK$1.5bn ($193m) dual tranche loan and has picked a Taiwanese bank to lead the trade.

The Indian government has reissued a request for proposals to manage divestments in 51 companies held by its holding company after an initial RFP flagged up problems with conflicts of interest. But with the hitches now fixed, equity capital market bankers are predicting increasing interest from bidders, writes Jonathan Breen.

India’s largest bourse, the National Stock Exchange, has moved a step closer to an IPO, naming four firms as joint global co-ordinators for its domestic listing.

China Orient Asset Management Corp demonstrated its strength in the bond market this week, pricing a $650m deal off the back of a $4.2bn order book.

China’s Xinyuan Real Estate brought a three year deal to the dollar market on Wednesday, attracting yield-hungry investors with an 8% handle.

Issuers are known for a lot of things — their savviness with deals, their eccentricities and sometimes their penny pinching tendencies.

Motherson Sumi Systems has appointed ICICI Securities, IDFC, IIFL, JM Financial and UBS as the leads on its qualified institutional placement, which is expected to raise $400m-$450m.

India’s RBL Bank priced its Rp12.1bn ($180.4m) IPO at the top end of guidance after a surge of demand pushed the deal to close nearly 70 times subscribed, said sources familiar with it.