Asia Pacific

Shandong Gold Group staged a strong inaugural appearance in the international bond market on November 4. Attracted by the rarity of the sector and the issuer’s status as a provincial state-owned enterprise, investors were eager to get a slice of the trade, surprising even those on the deal with their support.

Two leasing companies have rolled out their loans into general syndication, with China Universal Leasing seeking Rmb800m ($126m) from onshore lenders and CDB Leasing looking for $300m offshore.

Pakistan eyes life insurance IPO — SECP gives nod for unified stock exchange — BW Pacific sets sail for Oslo

Standard Chartered has been given the nod for its debut Panda bond issuance from the People’s Bank of China (PBoC). The deal is expected to take place quite soon, two sources with knowledge of the trade told GlobalRMB.

Standard & Poor’s slashed the rating of Mongolia to B from B+ this week, citing the country’s poor economic growth prospects for the next few years. The cut was quickly followed by downgrades of the nation’s three major banks.

Doha Bank is the latest lender to join the parade of financial institutions looking to gain access to Asian bank liquidity for their syndicated loans. The lender has launched a $500m fundraising that requires a chunky minimum commitment.

Sri Lanka’s Bank of Ceylon is seeking a fundraising of up to $200m, returning to loans after a two year absence. But while the borrower is approaching lenders at a time when they are very liquid, it may struggle to woo new banks, writes Shruti Chaturvedi.

CMS loses deputy CEO in HK — Deutsche ECM banker quits — Moss makes DCM return at Nomura

Standard Chartered has been given the nod for its debut Panda bond issuance from the People’s Bank of China (PBoC) and the deal is expected to take place quite soon, two sources with knowledge of the trade have told GlobalRMB.

Not content with being the first foreign government to issuing an offshore renminbi bond, the Province of British Columbia (BC) is now aiming to access the reopened onshore Panda bond market as the next step in reinforcing its commitment to China, says Michael de Jong, BC’s Minister of Finance, to GlobalRMB in a phone interview.

Industrial and Commercial Bank of China New York opened bookbuilding for a dual-tranche senior dollar bond on Thursday, while Future Land Development Holdings has started wooing high yield investors with a new two year offering.

Chinese property developers have been quick to capitalise on opportunities in their domestic bond market this year, taking advantage of a new funding channel available at a much cheaper cost. But with more and more issuers expected to use the onshore route, debt investors need to start better reading the risks.