Asia Pacific

Hanjin Transportation defied the odds to raise W217.84bn ($191.57m) from a block trade in Korean Air Lines, with sole bookrunner Morgan Stanley winning plaudits for its handling of the transaction that hit the market just a week after the first attempt fizzled out.

India’s Phoenix Mills, a shopping mall operator, has scooped Rp2.83bn ($45m) from a qualified institutional placement that resounded well with international long-only funds, surprising even those close to the deal with their strong interest.

A €600m ($663m) two year financing for China National Chemical Corp (ChemChina) has been opened into syndication. Two French lenders are leading the deal and they have invited a select group of banks to participate.

Tianjin Binhai New Area Construction & Investment Group did not have the best start to life in the dollar bond market, after both its three and five year notes widened by 10bp on their first day of trading this week.

South Korea’s Nonghyup Bank made a rapid return to the offshore bond market on July 15. Having learned lessons from its reduced outing last year, the Korean lender shuffled its banks and opted to raise just $300m. More importantly, bankers believe this deal could act as price guidance for Kookmin’s upcoming covered bonds.

Philippine oil refining company Petron Corp has lined up seven banks to lead its $550m refinancing loan. The deal is likely to go into further syndication sometime in August, according to a source.

SoftBank Group on Wednesday began roadshowing for euro and dollar bonds, even though the European high yield market has been at a standstill for two weeks while Greece negotiated its third bailout.

Korea Development Bank (KDB) made a rare venture into Singapore dollars, pricing a S$200m ($146.8m) three year bond. The deal was not only KDB’s biggest deal in the currency, but it was also the largest issue by a Korean name.

Ping An Real Estate issued the first offshore renminbi (CNH) bond in three weeks on July 14, making it the first borrower to test appetite since the Greek referendum. Although the issuer had to offer a decent premium to get the deal done, the level was flat to its onshore funding costs.

The People’s Bank of China (PBoC) is to allow offshore commercial financial institutions to issue RMB-denominated bonds onshore in a bid to expand the Panda bond market, two sources have told GlobalCapital Asia's sister publication GlobalRMB. It may even permit proceeds to be moved offshore.

Hindustan Petroleum Corp (HPCL) has mandated a group of three banks for its latest outing in the offshore syndicated loan market. The request for proposals for the new $200m five year bullet was sent out less than a month after the company wrapped up a separate $400m loan.

James Holian, ANZ’s head of debt syndicate for Asia, has left his role and is now considering his options within the lender GlobalCapital Asia understands.