Asia Pacific

This round-up focuses on China’s latest economic indicators, penalties for IPO investors and a range of other new developments.

Dongfeng Nissan Auto Finance Co added to the recent issuance rush in China’s auto loan ABS market by launching a Rmb3.96bn ($611m) revolving deal.

Shaoxing City Investment Group, a Chinese local government financing vehicle, used support from its 24-bank syndicate team to price a $700m bond on Thursday.

The Australian bank took a large chunk out of its tier two programme with a local currency deal.

India's IPO market is seeing a burst of supply, fuelled by listings of technology companies and benefitting from concerns around China's regulatory environment.

China’s auto ABS market has seen one of its busiest periods so far this year, as companies unleash new deals amid falling yields onshore.

Sichuan Development Holding Co paid investors a small new issue premium for its dollar bond sale this week.

India’s Rural Electrification Corp is testing the waters with a dollar loan linked to the secured overnight financing rate (Sofr), as pressure intensifies to switch out of Libor-pegged deals.

Indian solar company Azure Power Energy sold a green amortizing bond this week, raising $414m.

Chinese local government financing vehicle Zhuhai Huafa Group Co priced a $250m perpetual bond with the support of a hefty syndicate team on Wednesday.

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.