Asia Pacific

Logan Property Holdings Co raised HK$1.55bn ($200m) from a top-up placement on November 25, pulling off a successful trade despite the huge chunk of shares on sale and investors’ lack of familiarity with the company.

The Singapore dollar bond market saw some action on November 26 with Korea Development Bank (KDB) selling a deal in the Lion City.

Hungary is planning a renminbi-denominated government bond in the hope of laying the foundation for eastern European entities to borrow from the RMB market and encourage related investment activity, its Ministry for National Economy said this week.

The People’s Bank of China (PBoC) admitted a first batch of seven foreign central banks, sovereign wealth funds (SWF) and supranational agencies to the onshore interbank foreign exchange (FX) market, according to a November 25 announcement.

Intel, the American technology company, raised $A800m in its debut Kangaroo deal on Tuesday afternoon, drawing strong demand from Asian investors.

Baosteel Hong Kong Investment Co priced Asia’s first H-share equity-linked offering since 2007 on Tuesday, selling a $500m exchangeable bond that bankers are hailing as a market opener.

Two of the pre-IPO investors in Malaysia’s Malakoff Corp have divested their entire residual stake via a MR444m ($105m) block, with the deal buoyed by local demand and strong interest from one domestic pension fund.

Swiss lender UBS has promoted Edmund Koh to lead its Asia Pacific wealth management business from next year.

Thailand's Precious Shipping Public Company (PSL) is looking to make its maiden foray into the offshore bond market with a Singapore dollar deal early next year.

Bank of East Asia (BEA) opened books for a dollar-denominated additional tier one (AT1) on November 25, with the Hong Kong lender looking to use the proceeds to fund the purchase of its outstanding legacy tier one instruments.

Lee & Man Paper Manufacturing is seeking a HK$2.4bn ($310m) term loan to refinance existing debt and for its general corporate funding requirements.

The initiatives taken to bring Chinese and UK markets closer together mark a new height in the bilateral relationship, with more RMB products and a possible Stock Connect link at the heart of future plans, said Nikhil Rathi, the new CEO of the London Stock Exchange (LSE).