Asia Pacific

Chinese investors are propping up most of China Development Bank Financial Leasing Co’s HK$7.6bn ($979.3m) listing, which launched on Tuesday with nearly 80% of the offer covered by mainland cornerstone investors.

The recent opening of the China interbank bond market (CIBM) gives many global investors the widest access to the onshore fixed income market so far. Yet the entry of Chinese bonds into global indices remains a tricky proposition, according to market participants.

A subsidiary of Lifestyle International Holdings, which operates department stores under the Sogo brand, has launched a HK$8bn ($1bn) loan into limited syndication.

Cemex Holdings Philippines has kicked off bookbuilding for its potential Ps24.4bn ($526.3m) listing, with the offering covered by cornerstones and anchor investors at the low end of guidance, according to a source with knowledge of the situation.

Easing Brexit concerns have supported better paying in CNY swaps. Looking forward, the NDIRS curve is expected to steepen on improving liquidity conditions and dim sum related swap flow, writes Deirdre Yeung of Total Derivatives.

The head of equity syndicate at Citic CLSA Securities has resigned, according to people close to the move.

Indonesian state-owned Sarana Multi Infrastruktur has capped its latest borrowing at $175m despite an oversubscription that saw demand close to $600m come in.

Fullerton Healthcare is set to sell a dual-tranche Singapore dollar bond backed by the Credit Guarantee and Investment Facility. The issuer plans to hit the market as early as next week ahead of the firm’s planned IPO in late July.

Volatility and changing demand have forced issuers to change their style of issuance in the Kangaroo market, printing smaller deals to demand rather than benchmarks. But the market has not stopped providing valuable opportunities for duration and arbitrage. By Lewis McLellan.

Hong Kong’s Securities and Futures Commission is to have earlier and more direct inputs on listing policy matters and regulations in the city, according to a new consultation.

Chinese auto rental company eHi Car Services, which sent out invitations for its debut $150m syndicated loan in early May, has attracted a few commitments.

India’s stock market regulator is looking to offer real estate investment trusts (Reits) a helping hand by simplifying the process of registration and launching of an IPO.