Asia Pacific

A unit of e-commerce platform Cogobuy Group has launched a $100m borrowing into general syndication via a single mandated lead arranger and bookrunner.

Link Real Estate Investment Trust brought the first green bond from a Hong Kong corporate on Thursday, printing $500m worth of notes at a level that was considered fair value among investors.

China is continuing its push to establish the renminbi as an investment currency by opening up its private fund industry to wholly foreign-owned firms. While this is likely to spark plenty of interest, market participants said foreign asset managers need to be ready to launch even before registering for a licence.

Yeo Hong Ping has left JP Morgan as head of Singapore investment banking to join Fullerton Financial Holdings, a subsidiary of sovereign wealth fund Temasek Holdings, according to a source with knowledge of the move.

ICBC Asia made its debut in the additional tier one market on Thursday with a bang, netting $1bn from a deal that boasted the lowest coupon on record for an AT1 in Asia ex-Japan.

Bank of Communications, China’s fifth biggest bank, is mulling an IPO of its investment banking arm in Hong Kong, issuing a request for proposals for a possible $300m listing, sources said.

In this round-up, Singapore Exchange reports strong trading of RMB currency futures, China’s RMB cross-border trade settlement jumps and sales under Mutual Recognition of Funds (MRF) pass Rmb2bn in May. Plus, a recap of GlobalRMB's coverage this week.

VPBank Finance, a subsidiary of state owned Vietnam Prosperity Bank (VPBank), has hit the market for a $100m borrowing with one bank at the helm.

Hospital operator Guangdong Kanghua Healthcare Co has filed for approval to float on the Hong Kong Stock Exchange, joining a group of its Chinese peers opting to list in Hong Kong.

China Railway Group, China Minmetals Corp and Greenland Hong Kong Holdings are set to hold roadshows with investors next week ahead of their respective dollar offerings.

Indian mortgage lender HDFC has received about $100m worth of commitments during general syndication of its $375m five year loan.

Big moves in credit, equity and foreign exchange markets this week were magnified by mass unwinding of previously popular trades as investors capitulated to a reversal of fortunes for Japan and European banks.