Asia Pacific

BNP Paribas is losing a loan syndicate banker in Singapore, according to two sources.

Investors turned up in large numbers to take advantage of Busan Bank’s offshore bank capital debut, with the robust demand set to encourage the rare South Korean issuer to become a more frequent name in the debt market.

ONGC Videsh has broken its two year dollar bond hiatus, opening books for a dual-tranche offering split between a 5.5 year and 10 year.

Industrial Securities Co is planning an up to $200m float in Hong Kong and has filed an application with the city’s exchange, according to a source close to the deal.

A $400m loan for Wanda Commercial Properties Hong Kong has closed with six lenders joining in senior syndication.

The Brics New Development Bank (NDB) marked its first appearance in the capital markets with a Rmb3bn ($448m) green bond on Monday that was notable for its extremely tight pricing.

ICICI Prudential Life Insurance Co has kicked off investor education for its September IPO that could raise around $400m, according to a source familiar with matter.

China Jinjiang Environment Holding Co has told investors that its S$184.34m ($137m) Singapore IPO is comfortably covered, as the fixed price offering appears poised to sail through.

Oversea-Chinese Banking Corp has merged its two subsidiaries in the Mainland — OCBC Bank (China) and Wing Hang Bank (China) — in a bid to comply with the country’s single presence policy for foreign lenders.

Kaisa Group Holdings, which last year became the first Chinese property developer to default on its offshore notes, plans to wrap up its debt restructuring by the end of this week after reaching an agreement with creditors in May.

The Michael Bloomberg-led working group is seeking to establish a RMB clearing hub in the US. Michael Knorr, head of payments and liquidity risk management at Wells Fargo, and a member of the group’s operating model options subcommittee, gave GlobalRMB his views on the challenges ahead.

The Pakistan government is preparing to exit its position in Kot Addu Power Co (Kapco) and has called on investors to make their interests known.