Asia Pacific

BlackRock has named Justin Ferrier as managing director of the Asian private credit platform, as the investment manager seeks to fill the gap left by banks withdrawing from traditional lending, it said in a press release on Tuesday.

Hong Kong-based Chong Hing Bank is gearing up to sell its debut Panda bond of up to Rmb1.5bn ($230m) on May 20. Five banks have been mandated for the transaction which is offering higher price guidance than during the marketing stage due to recent defaults in the China bond market.

Hungary still plans to issue renminbi debt in Panda bond format as well as a euro-denominated note following its successful placement of a dim sum note last month, György Barcza, CEO of AKK, Hungary’s debt management office, told GlobalCapital.

Danske Bank has filed to sell its first bonds on the Tokyo Pro-Bond market, as the yen market looks set to get off the ground in 2016 after a ¥110bn trade from Bank of America last week.

Tencent Holdings has received enough commitments to more than double its $1.5bn loan as liquidity continues to pour in for names in the Chinese technology sector, said sources close to the trade.

China Merchants Securities Co is hoping to follow its peers onto the Hong Kong Stock Exchange with a third quarter listing.

First Gulf Bank and Goldman Sachs have both launched their first public renminbi offerings of the year in Taiwan’s Formosa bond market.

Bhira Investments, a unit of India’s Tata Power, has wrapped up allocations for its $460m refinancing following a bumper response in syndication, with 19 banks getting a slice of the trade.

The Singapore dollar bond market’s recent resurgence of private bank demand has prompted a slew of subordinated debt issuance with Manulife Financial Corp launching a rare insurance tier two and Mapletree Logistics Trust opting for a perp non call five and a half on Monday.

BOC Aviation has already covered books for its HK$8.7bn ($1.1bn) IPO, having started the roadshow on Monday morning, said a source familiar with the matter.

South Korea’s Hotel Lotte Co, which is planning a $3bn-$5bn listing, could start bookbuilding on Friday, according to a source close to the deal.

Indonesia’s Cikarang Listrindo has kicked off bookbuilding for its IPO, which could raise up to $357m, with the deal already covered by anchor investors, said a source close to the deal.