Asia Pacific

New Zealand has announced its new government bond programme will feature a 30 year syndication, extending its curve from 2041 to 2051.

The Indian government has raised Rp40bn ($547.4m) from a sell-down of its stake in Axis Bank.

UnitedHealth Group finally sealed its $7bn merger and acquisition-related bond deal after a week-long delay, but it was stung by secondary market volatility as inflation fears remained top of investor minds.

Singapore real estate investment trust Mapletree Industrial Trust has raised S$823.3m ($618.3m) from a sale of new units to fund data centre acquisitions, with the deal receiving a warm welcome from investors despite not being very well flagged.

Two Chinese local government financing vehicles (LGFVs) raised a combined $480m on Thursday, following a quiet start to the week due to a public holiday.

The ABS frenzy in China’s domestic market continued unabated this week, with three more originators launching their transactions. This included BYD Auto Finance Co, which made its internationally rated debut.

ONGC Videsh (OVL), the overseas business unit of Indian state-owned Oil and Natural Gas Corp, is plotting a new dollar loan to refinance a looming bond maturity.

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.