Asia Pacific

Credit Suisse is continuing the build-out of its private banking operations in Asia, announcing a spate of appointments for North Asia this week.

A number of Chinese high yield borrowers that hit the dollar bond market this week have seen mixed responses to their notes in secondary trading, which bankers say is a sign of changing market sentiment and investor response.

Artisan Acquisition Corp, a blank cheque company backed by Hong Kong tycoon Adrian Cheng, has tapped global investors for a $300m Nasdaq IPO.

China Mengniu Dairy Co has raised a HK$2.3bn ($296m) green loan from a group of three banks.

BNP Paribas has created a new global banking division in Asia Pacific, a move that brings the structure of its business in the region in line with its international operations, GlobalCapital Asia has learnt.

Standard Chartered has lost its Asia head of primary ABS, GlobalCapital has learnt.

Commonwealth Bank of Australia's New Zealand subsidiary ASB Finance issued its largest covered bond on Tuesday, the first 10 year from New Zealand and the first covered bond from the country since January 2019. The focus for this week’s transaction was all about re-engaging with investors, said ASB Bank treasurer, Chandu Bhindi.

China’s ABS market had a burst of supply this week, with five auto loan finance companies announcing or pricing deals in a bid to get ahead of possible tighter monetary conditions onshore. But the diverse nature of the originators meant competition was of little concern. Addison Gong reports.

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China Railway Construction Corp (CRCC) sold two tranches of five year bonds, one in dollars and the other in euros, to net more than $663m.

A pair of large block trades this week showed the depth of Hong Kong’s equity capital market, with more than $3bn raised by conglomerate China Evergrande Group and European food products company Danone. Jonathan Breen reports.

A group of nine issuers from Asia sold green or sustainability dollar bonds this week, propelling volumes to new highs. A large part of the debt business in the region is still focused on green and the environment, but there is growing urgency to pay more attention to governance standards. Morgan Davis reports.