Asia Pacific

An overzealous pricing strategy and a divisive credit rating meant JD.com’s debut dollar bond offering did not get off to a good start with the notes widening significantly in the secondary market on Monday.

Maybank timed its first Basel III tier two outing in dollars well, netting $500m last Friday. Despite the turmoil surrounding the country, the Malaysian lender was encouraged by the strong performance of the sovereign’s sukuk to come out to the market in the same week.

Société Générale has appointed Yann Garnier as head of global markets for Asia Pacific, replacing Frank Drouet who recently took on the role of head of global markets.

Malaysia’s Eco World International is in the process of lining up five or six cornerstone investors for its summer listing, a source close to the deal told GlobalCapital Asia.

Paediatric nutrition company Biostime has signed up one lender to arrange a $450m take out of a bridge loan raised last year for the acquisition of Swisse Wellness.

BOC Aviation has begun investor education for its $2bn IPO in Hong Kong, with pre-marketing expected to continue into the early part of next week, said a source close to the transaction.

Rohan Lamba, an executive director in Nomura’s Asia ex-Japan equity capital markets desk in Hong Kong, is leaving at the end of April, said sources close to the situation.

Ford Auto Finance (China) returned to the auto ABS market last week with a Rmb2.98bn ($458m) offering that allowed it to cut its funding costs by 30bp.

China International Capital Corp (CICC) and Bank of Chongqing are prepping for their respective bonds in the offshore or onshore debt markets.

BNP Paribas has hired Citi veteran David Ratliff as its new head of financial institutions coverage for Asia Pacific, sources close to the move have told GlobalCapital Asia.

Philippine property developer 8990 Holdings has picked China Bank Capital Corp to arrange and underwrite its upcoming Ps5bn ($107m) securitization of housing receivables.

A senior banker in charge of structured loans at Hang Seng Bank is set to leave after more than a decade, according to sources.