Asia Pacific

Chinese developer Soho China has wrapped up a tender offer to repurchase its outstanding notes as part of a debt management exercise. But as the bond price rallied to the repurchase level after the announcement of the transaction, the company managed to buy back less than half of the notes.

With China’s President Xi Jinping due to arrive on Monday for his first state visit to the UK, the People’s Bank of China (“PBoC”) decided to launched its debut CNH central bank note in London on the same day, mandating HSBC and ICBC as joint global co-ordinators.

Firm Chinese growth data has supported a short-end CNY swap bid and a flatter NDIRS curve. The latest PBoC currency relaxation moves are expected to back an increase in Panda bond issue flow, writes Deirdre Yeung of Total Derivatives.

China’s BeiGene is eyeing a listing on the Nasdaq, with the drug maker tapping three banks for a $100m IPO.

Bank of China has received the green light from its board of directors to spin off and list BoC Aviation on the Hong Kong Stock Exchange.

KfW has found stronger than expected demand after tapping the belly of its Kangaroo bond curve, as a Canadian province printed at the long end in the format.

Bank of Jinzhou Co has filed afresh for a $600m IPO in Hong Kong, which was delayed in June due to regulatory issues and scrutiny around its loan exposure to the Hanergy Group.

The Securities Commission Malaysia (SC) is looking to refine its criteria for the listing of companies in the mineral, oil and gas exploration or extraction (MOG) sectors on its bourse, with the regulator releasing a consultation paper on October 15.

South Korean game developer Nexon has sold all of its shares in rival company NCSOFT Corp for W605.1bn ($536m), ending a three-year relationship that failed to create any “significant synergies” between the companies.

Tata Motors has launched a $600m dual-tranche refinancing into general syndication, with the borrower keeping the same top-level syndicate as the original fundraising.

Hong Kong-listed China Tian Lun Gas Holdings has mandated three banks to arrange a $150m borrowing, which has launched into general syndication.

The migration of Chinese property developers from the offshore bond market back to the domestic market is gaining steam, with another three issuing in the Mainland this week.