Asia Pacific

Bank of Tianjin has commenced pre-deal investor education to test the waters for its $1bn Hong Kong IPO, say bankers.

Hong Kong MTR Corp’s tightly priced HK$15bn ($1.9bn) loan has attracted interest from more than 20 banks in syndication, according to sources.

Malaysia Building Society (MBSB) has announced a two-call rights issue that will see it raise up to MR2bn ($487m) from shareholders.

In this round-up, Malaysia opens RMB qualified foreign institutional investor (RQFII) applications, Macau launches a RMB real time gross settlement (RTGS) payment system, China Construction Bank (CCB) will join the new London silver fix, and the Singapore Exchange (SGX) reported a strong start to RMB currency futures trading in 2016. Plus, a recap of GlobalRMB's top stories this week.

The qualified domestic limited partnership (QDLP) scheme was reported to be the latest victim of attempts by the Chinese authorities to stem outflows. Market participants, however, deny the scheme has been shut down.

Perennial Real Estate raised S$125m ($90.4m) from a three year bond on Thursday, the latest in a flurry of deals in Singapore’s debt market.

Doosan Bobcat, part of South Korean chaebol Doosan Group, has roped in six banks to lead its IPO.

China’s decision to provide easier access to its bond market for foreign asset managers has not diminished the value of the renminbi qualified foreign institutional investor (RQFII) scheme, according to Matthieu Bailly, CEO at Octo Asset Management.

Korea Gas Corp (KoGas) is looking to sell its first international bond of the year in the second quarter, as part of plans to raise $1.5bn-$1.9bn in 2016 to refinance debt and fund overseas projects.

A $300m three year loan for Development Bank of the Philippines (DBP) has been allocated, with the borrowing capped at the launch size despite an oversubscription.

Keihan Electric Railway Co joined on Thursday in the recent spate of Japanese convertible issues sold outside Japan. Like Fuji Machine Manufacturing Co’s deal the previous day, the bond was a debut CB issue, and will be used entirely to finance a share buyback the following day.

Toronto-Dominion Bank (TD) and National Australia Bank (NAB) raised more than €3bn this week in the US dollar denominated covered bond market, nearly doubling supply seen so far this year.