Asia Pacific

Ryuchi Kaga tells Emerging Markets that Asia is likely to fall short of the $8tr that needs to be spent on infrastructure by 2020 but that PPP will play an increasingly important role across the region

Dongfeng Peugeot Citroën is planning to start the bookbuilding process for a Rmb1bn ($155m) securitization of auto loan mortgages next week.

Chinese regulators gave Mainland-based corporates more breathing space by simplifying access to offshore borrowing and injecting more dollar liquidity in the onshore foreign exchange (FX) market on April 29.

Last month in New York, 175 countries signed the historic Paris agreement on climate change, with commitments to reduce greenhouse gas emissions. Asia, as the world’s biggest emitter, will be a key player in contributing to turn the accord’s goals into reality.

Electrical appliance maker Midea International Corp has approached the syndicated loan market for a $330m fundraising.

The default by two state owned enterprises this year has stirred fears that the surge in China’s debt to 240% of GDP heralds further problems that could spill over into the offshore bond market with profound negative consequences.

Indian mortgage lender HDFC is in the final stages of signing up lenders for a $375m borrowing, according to two sources.

Issuers of consumer asset-backed securities look poised to take advantage of wobbles in the Chinese collateralised loan obligation market in the wake of high-profile defaults by state-owned enterprises.

China Aluminum International Engineering Corp (Chalieco) is planning to issue renewable bonds in China’s domestic debt market to expand its funding channels.

India’s Ujjivan Financial Services is planning to price its Rp8.8bn ($132.7m) float at the top of the range after investors across the board placed their orders at that level, according to a source close to the deal.

Yongpyong Resort Corp is looking to raise as much as W153.8bn ($135m) from a public listing of 16.7m shares, according to a filing with the Korea Exchange on Monday.

Industrial and Commercial Bank of China’s Singapore branch has ventured out to the dollar bond market straight after the end of Labour Day holidays, launching a three year offering on Tuesday.