Asia Pacific

Vietnamese education company Nguyen Hoang Group is making its offshore loan debut with a $62m deal.

Chinese company Sany Heavy Industry Co has returned to the offshore loan market after a nine-year absence for $600m.

China Everbright Bank priced its $600m bond through fair value this week, buoyed by strong demand from the syndicate team helming the deal.

BMW Automotive Finance (China) sold a Rmb8bn ($1.25bn) auto loan ABS on Tuesday, its second outing this year. It slashed the revolving period to one month versus 14 in the last deal.

Hong Kong developer Pacific Century Premium Developments (PCPD) printed a $700m deal on Tuesday as part of its efforts to tender a 2022 bond.

China Logistics Property Holdings Co built up strong demand for its HK$778.8m ($100.4m) placement on Tuesday evening, but its stock came under selling pressure the following day.

UP Fintech Holding's follow-on offering in the US drew a 10 times oversubscribed book, as its fintech credentials and online operations proved appealing to investors.

Pharmaron Beijing Co brought the first renminbi-linked but dollar settled convertible bond to the market in nearly five years this week, raising $600m from the dual tranche deal. Bankers called it a ‘smashing success’ and said the issue pipeline from the pharmaceutical sector is strengthening. Rashmi Kumar reports.

Bloated syndicate teams running bonds in Asia are becoming the norm yet again. But banks and issuers need to show more restraint.

MUFG has promoted a 30-year veteran banker to lead its China corporate banking franchise in the Mainland.

Bank of New Zealand (BNZ) priced an €850m seven year covered bond on Tuesday in line with the bid side of Westpac New Zealand’s deal in the same size and tenor issued last week. Although the order book was thinly subscribed, lead managers deemed the quality of orders high.

Consumer financing firm Home Credit Vietnam has launched an up to $100m loan into syndication, breaking down commitment tickets to smaller amounts to attract a wider group of lenders.