Asia Pacific

Indian Oil Corp has mandated three banks for its $500m loan return, after inviting firms to bid for the transaction last month.

Three Chinese domestic credit rating agencies downgraded Sichuan Languang Development Co due to higher refinancing risk on Monday, sending its bond prices lower.

Asia's investment grade bond market is off to a busy start for the week, while pressure on the high yield sector continues to keep borrowers at bay.

An investor consortium led by the local government of Jiangsu has agreed to channel Rmb8.82bn ($1.36bn) into troubled Chinese electric appliance retailer Suning.com, giving a boost to the company’s share price.

China’s cybersecurity task force has ordered online platforms Full Truck Alliance (FTA) and Kanzhun, both recently listed in New York, to stop signing up new users. The move came immediately after the regulator ordered ride-hailing service Didi to be removed from mobile app stores.

South Korea’s busy IPO market is continuing to pump out deals, with the latest listings coming from Kakao Pay and Covid-19 test maker SD Biosensor. But issuers still have to be realistic, as Krafton found out when it shot for, but missed, the country’s largest ever IPO.

Yunnan Provincial Energy Investment Group, a Chinese state-owned company, has returned to the loan market after three years for a sustainability-linked facility.

Bank of China has notched yet another first in Asia’s debt market. The firm’s Hong Kong arm has raised Rmb1.5bn ($232m) from an offshore dim sum bond tagged as a ‘sustainable and smart living’ green deal, aimed at meeting the Mainland’s ambitious carbon neutrality goals.

Santander is preparing to make use of some attractive Australian dollar bond market conditions to sell the first bond from its new Kangaroo programme.

Some of Nomura’s senior Asia equity capital market bankers have resigned amid a host of other recent exits, GlobalCapital Asia understands.

Credit Suisse has hired a new head of debt capital markets for Australia.

Xpeng bagged HK$14bn ($1.8bn) this week from the first secondary listing in Hong Kong by a Chinese electric vehicle maker.