Asia Pacific

South Korean arms manufacturer LIG Nex1 had a debut to remember with institutional demand for its W524.4bn ($447m) IPO going through the roof. Books ended up 121x covered, with the company pricing shares at the top of the range and taking the title of the largest Korean listing of 2015.

Thai company Indorama Ventures is set to meet Singapore dollar bond investors next week ahead of a proposed offering, which would mark its debut outing in the currency. The borrower is selling the bonds with a guarantee from the Credit Guarantee and Investment Facility (CGIF).

China’s Ministry of Finance is gearing up to issue three month government bonds every week starting from next month as part of its efforts to get the renminbi into IMF's Special Drawing rights (SDR) basket, according to several sources close to the matter.

Mizuho Bank is expected to launch its inaugural bond in the Thai baht market on Wednesday, a few days later than planned as the borrower awaits orders from a key investor. The deal will be the first to be printed under a new pan-Asian initiative designed to streamline debt issuance.

Commodities trader Mercuria is back in the market for its annual refinancing, launching a $900m triple tranche revolver into general syndication late last week.

HM Sampoerna, the Indonesian unit of cigarette giant Philip Morris International, has launched an up to Rph20.8tr ($1.4bn) follow-on offering, with plenty of long-only funds on board as anchor investors.

Credit Suisse has appointed John Woods as chief investment officer, Asia Pacific, for private banking and wealth management.

Early weakness in Chinese equities triggered dip-buying and a stock market rebound. The improved risk sentiment has backed paying interest in CNY swaps and 1s/3s has flattened on currency-related underperformance in the short-end, writes Deirdre Yeung of Total Derivatives.

Hong Kong-listed LVGEM (China) Real Estate Investment is planning to raise HK$3.5bn ($451m) from a placement of new shares in order to fund part of a HK$13.79bn asset injection from Green View Holding.

China Development Bank is set to meet investors from September 21 in Europe ahead of issuing bonds in multiple currencies.

China Reinsurance Corp and CICC passed their respective listing hearings with the Hong Kong Stock Exchange on September 17, clearing the way for a pair of chunky IPOs in the city.

London will continue to be the largest western RMB hub thank to the city’s sophisticated financial services and the close relationships between the UK and China, argued Alderman Alan Yarrow, the Lord of Mayor of the City on London on September 18 in Hong Kong.