Asia Pacific

VietinBank, one of the largest state-owned commercial lenders in Vietnam, is back in the market with a $100m bullet just five months after signing its previous loan. This time around, the borrower has managed to narrow the margin by 40bp.

India’s Infrastructure Leasing & Financial Services is planning to float an infrastructure investment trust later this year and is targeting a potential size of Rp15bn ($224.0m), according to a source familiar with the matter.

The SSA market enjoyed a resurgence of Kangaroo issuance this week. The flurry was mostly driven by Asian reverse enquiry, and stands in contrast to an inactive first half for SSA issuance in Aussie dollars.

It was a tale of two interventions this week, as Japan underwhelmed markets with its stimulus plan while the Bank of England delivered more than expected, in moves that also sent the yen and pound reeling in different directions.

KfW was able to price through its curve as it reopened an Australian dollar bond on Wednesday evening Australian time.

Hong Kong finally saw the first big typhoon of the summer this week. Naturally it was an anti-climax like every other year, but that did not stop it disrupting the city — although some people fared better than others.

Road King Infrastructure’s new $450m three year bond proved widely popular among investors, attracting an order book of about $6.5bn.

After a successful outing in the bond market in June this year, India's Samvardhana Motherson Automotive Systems Group returned for a tap on Wednesday, in what bankers described as an opportunistic transaction.

Indian Oil Corp has awarded two banks the bid for a $300m bridge loan to support the acquisition of stakes in Russian oilfields.

Details have emerged on agricultural trading and processing company Cofco Agri’s $2.6bn two tranche refinancing, for which a roadshow was held in Singapore last week.

Lippo Karawaci navigated a crowded primary bond market on Wednesday to add $260m to its 2022s with a tap. The success of the deal reflects a big improvement in market sentiment compared with the early part of the year, when the Indonesian developer failed to pull off an exchange offer.

Orlando Faulks has been appointed head of corporate finance for Japan at Deutsche Bank starting November, as Ken Kawashima plans to go back to his previous job.