Asia Pacific

South Korea’s KT Corp won over investors for 10 year paper on Tuesday, despite recent sharp movements in Treasury yields, as the borrower’s rarity value and industry strength proved attractive.

Chinese local government financing vehicles have been on a roll recently, pushing out a parade of deals in the international bond market. The latest to join the fray is Chongqing Nan’an Urban Construction and Development, which raised $800m from a well received deal on Tuesday.

Chinese logistics firm ZTO Express is seeking approval for an IPO in the US that could raise up to $2bn, according to a source familiar with the matter.

Global Logistic Properties this week became the first international corporate to publicly issue a Panda bond, successfully closing a Rmb1.5bn ($224m) dual-tranche offering on Monday.

The Indian government is planning to launch an IPO to offload part of its position in Housing and Development Corp (Hudco) and has sent out a request for proposals to lead the transaction.

Singapore-listed Ezion Holdings is planning to sell up to S$141.3m ($104.3m) worth of stock through a rights issue at a subscription price of S$0.29 apiece, according to a filing with the Monetary Authority of Singapore on Monday.

Housing Development Finance Corp is set to put its name in the history books after launching the very first Masala bond from an Indian issuer on Monday evening. The offshore rupee trade has been a long time coming but if successful, it could unleash a torrent of new issuance from Indian firms.

Shenzhen Expressway raised $300m from its bond comeback on Monday, finding robust investor interest thanks to its strong credentials.

A diverse group of issuers headed to the dollar debt market on Tuesday, with a Chinese local government financing vehicle, a Singaporean real estate firm and a South Korean telephone company vying for investor attention.

Nasdaq-listed China XD Plastics Co has launched a $180m two year financing into senior syndication via a single mandated lead arranger and bookrunner.

Foreign investors have got their first taste of Chinese residential mortgage backed securities after Postal Savings Bank of China managed to draw them in with the inaugural internationally rated offering from the asset class.

State-owned Korea Gas Corp has become the first issuer from the country to venture out to the debt market following Brexit, netting $900m via two tranches that were sold at identical spreads.