Asia Pacific

The Australian Prudential Regulation Authority (APRA) has plans to drop the risk retention requirement for Australian securitization issuers, according to proposed revisions to its prudential framework.

Logan Property Holdings Co raised HK$1.55bn ($200m) from a top-up placement on November 25, which was well received despite investors’ lack of familiarity with the company.

OCBC has hired David Cheng from Deutsche Bank to be head of corporate finance. He will run the Singapore bank’s equity capital markets, M&A and equity syndication teams.

Credit Suisse Founder Securities (CSFS) has won approval to provide brokerage services in Shenzhen Qianhai from the China Securities Regulatory Commission.

Guangdong Rising Asset Management (GRAM) has completed its inaugural offshore outing with a standby letter of credit from China Development Bank, with the leads finding it a challenging process to pick the best comparables.

Saka Energi Indonesia, a subsidiary of Perusahaan Gas Negara, has hit the market for a financing of up to $600m and is giving banks the option of booking the loan onshore or offshore.

Bank of Qingdao priced its HK$4.7bn ($606.5m) IPO at the bottom of guidance on November 25, leaning on a heavy cornerstone tranche and investors from Hong Kong and China to get over the finish line.

Birla Carbon and Fiat India have launched their respective dollar loans into syndication, with the former seeking $925m and the latter $250m.

India’s Reliance Industries signed its $1.47bn dual-currency loan on November 20 in Dubai, sealing the deal after commitments from a 30-strong group lenders.

Guangzhou Metro Group has raised $600m from its first foray into the international bond market, with its sector of operation and government backing attracting investors.

China’s Ministry of Finance (MoF) completed most of its Rmb14bn ($2.2bn) offshore bond auction this week, with just a Rmb2bn retail tranche for Hong Kong residents left to wrap up.

Doosan Power Systems (DPS), wholly owned by Doosan Heavy Industries & Construction Co, has hired banks and started a roadshow ahead of a 30 year non-call three bond. The dollar outing will be guaranteed by the Export-Import Bank of Korea (Kexim).