Asia Pacific

Commodities trader Gunvor Singapore has exercised an accordion feature to increase the amount of its latest revolver to $1.0627bn, with seven lenders joining the 31-strong syndicate. This is the second increase by the company, which was initially seeking $550m and wound up the borrowing at $911.7m on the back of strong demand.

India’s Syngene International has flung open the books to its Rp5.5bn ($86.0m) IPO, with the trade bagging anchor investors including the Monetary Authority of Singapore and Government of Singapore.

There is little doubt that the Republic of Indonesia is one of the most recognisable Asian borrowers in the international debt market, approaching investors with regular, sensibly-priced issues that have won it plaudits from fund managers and bankers alike. But despite its steadfast reputation among the global investor base, the country cannot afford to sit back.

The rise of the Republic of Indonesia in the international bond market has been spectacular over the past few years, with a series of high profile transactions that not only showcased the borrower’s attractiveness to investors, but also its willingness to innovate. The prospect of a ratings upgrade just around the corner should help continue momentum, but the economic picture is mixed, writes Rev Hui.

China Merchants Holdings (International) Company has opened books on a dual tranche offering that could raise the firm as much as $700m.

China International Capital Corporate (CICC) has filed for its IPO in Hong Kong. It is a venerable name, but as Philippe Espinasse writes, its best days may be behind it.

CNY swaps have been better bid as bets on People's Bank of China (PBoC) easing are unwound. At current levels, sources say flatness in the 1s/3s curve slope is likely to back more paying in three years, writes Deirdre Yeung of Total Derivatives.

China’s eHi Car Services and Tingyi Holding Corp will be on the road for investor meetings this week ahead of dollar and offshore renminbi (CNH) notes, respectively.

China Railway Signal & Communication Corp (CRSC) hit the road for its HK$14.00bn ($1.81bn) IPO in Hong Kong on July 27, launching the trade with a covered book and putting half of the offering in the hands of a whopping 16 cornerstone investors.

An $80m four year loan for Cambodian borrower Khmer Brewery has received a commitment from a Taiwanese bank. The deal, which has three banks at the helm, is targeting banks that have some presence in the southeast Asian nation.

China Development Bank (CDB) is preparing to issue an onshore US dollar bond this week. While not the first for the bank in onshore dollars, cheap onshore borrowing costs mean that the deal is being seen as offering a new template for cost-effective funding of China's macro outbound strategy.

Electronic components distributor World Peace Group has picked a quartet of banks to lead its latest borrowing of NT$6bn ($195m).