Asia Pacific

Large European banks shifted their funding focus to the dollar market this week, printing stunning deals as the euro market showed it was more sensitive to signs of tighter monetary policy. Tyler Davies reports.

Covered bonds issued this week by United Overseas Bank and Raiffeisen-Landesbank Steiermark showed that, for the first time this year, sentiment has turned bearish and suggested that more careful consideration of pricing, timing and maturity is now required.

Angel Pond Holdings Corp, a special purpose acquisition company backed by Alibaba co-founder Simon Xie, has raised $250m from a New York Stock Exchange IPO.

Viva China Holdings raised HK$3.8bn ($491.4m) by offloading a block of shares in Chinese sportswear manufacturer Li Ning Co this week, while Swiss Re exited New China Life Insurance.

JD Logistics wrapped up its jumbo Hong Kong IPO on Thursday after a strong turnout from institutional investors, attracted to the company’s fair valuation and its parent’s credentials. The multi-billion-dollar listing is set to be the city’s largest float since the beginning of the year, writes Jonathan Breen.

Indonesian multi-finance companies are continuing to favour club loans over syndicated deals, with Federal International Finance becoming the latest firm to use this route for its fundraising. Pan Yue reports.

Singapore Airlines is planning to raise S$6.2bn ($4.6bn) from a rights offering of mandatory convertible bonds.

Singapore has set up a new task force to give a fresh push to its green financing ambitions, rolling out initiatives and putting more focus on climate-related disclosures from financial institutions. Morgan Davis reports.

Freeport Indonesia is inviting banks to join the senior syndication stage of its $750m borrowing.

Foreign ownership of Chinese domestic bonds has hit an all-time high of over Rmb3.6tr ($562bn) — an impressive number but one that warrants a much closer look.

Hong Kong's heat levels have hit 30 degrees Celsius recently — meaning it's time for junk boat season.

Nomura’s Karwal moves to AffaMed — Barclays hires for special situations — JPM shakes things up in China, Aus — StanChart loses ABS banker