Asia Pacific

Hyundai Heavy Industries Co, the world’s largest shipbuilder, is aiming to raise up to W1.18tr ($1.03bn) from its IPO, bringing yet another chunky listing to the South Korean market.

Chemplast Sanmar has opened bookbuilding for its up to Rp38.5bn ($517.1m) IPO, while Aptus Value Housing Finance India is targeting Rp27.8bn.

Casino operator Wynn Macau is set to close a new loan of around $1.5bn with a small club of banks.

The growing divergence in the financial conditions of China’s banks means now more than ever, the country’s small and medium size lenders are in dire need of additional support.

China Huarong Asset Management's dollar bonds swung back up last week, making them the top performing investment grade notes in Asia.

ANZ has promoted veteran banker Farhan Faruqui as its new chief financial officer.

Industrial and Commercial Bank of China has added Vicky Chan, a loans banker from China Construction Bank, to its team following a restructuring of its origination and distribution business.

Two Chinese local government financing vehicles raised less than $100m each from the dollar bond market on Tuesday, in what is shaping up to be a relatively quiet week for debt issuance in Asia.

Power Finance Corp’s decision to ditch a Libor-linked loan in favour of a fixed rate deal is a bold move — but also shows how far behind Asia’s loan market still is in transitioning away from the benchmark lending rate.

A pair of banks moved the bar downwards as they printed two of the tightest Australian dollar deals since the 2008 financial crisis: ING Australia found demand for dual tranche covered bond, while United Overseas Bank tapped the three year point of the curve.

Mainland China’s sustainable bond market has gone from strength to strength recently, with issuers and investors finding new opportunities and embracing international standards.

ING is set to print the first Australian dollar covered bond of the year this week. Covered paper out of the region has remained scant over the last 12 months, but issuance is set to pick up as onshore lenders start to think about life after the end of the Reserve Bank of Australia's Term Funding Facility.