Asia Pacific

International investors are set to get their first chance to buy a carbon neutrality bond from China, with China Development Bank preparing for a deal this week. This is encouraging, and shows the country is serious about using capital markets to propel its carbon goals. But the government’s credibility will remain in doubt unless it makes changes elsewhere too.

Asian borrowers are showing growing interest in sealing multiple bilateral loans over syndicated deals in a bid to save time and funding costs. But while one-on-one fundraising exercises make sense in the current market environment, issuers should be wary about abandoning syndication entirely.

Smart Share Global is drumming up interest in its Nasdaq IPO, which is expected to hit the market in late March, according to a source close to the trade.

Five banks are set to bring nearly Rmb60bn ($9.23bn) of subordinated bond supply to China’s domestic market this week, making it the busiest week for onshore bank capital deals so far this year.

Chinese company Fujian Yango Group Co raised $175m on Monday from a three year bond.

Property manager S-Enjoy Service Group has raised HK$1.04bn ($133.9m) from a sale of primary stock, boosting the size of the deal after strong demand swiftly covered the book.

Linklogis, a technology-based supply chain finance company, is seeking approval for its Hong Kong IPO from the city’s stock exchange this week.

Chinese property developer Shui On Land has returned to the loan market after a break of two years. It is seeking a $200m borrowing.

A HK$5.29bn ($682m) green loan to support the acquisition of Hong Kong-based building Cityplaza One by a Gaw Capital Partners-led consortium has been launched into general syndication.

MUFG has for the first time chosen a single leader for its banking and securities divisions in EMEA. John Winter will take the post from April 1, meaning that the most senior executive in EMEA will be non-Japanese for the first time.

Chinese financial technology company Bairong has set its Hong Kong listing in motion after winning approval from the city’s bourse.

Hong Kong is facing the possibility of a fifth Covid-19 wave in the city, with the latest virus bubble infiltrating the financial industry.