Asia Pacific

The Export-Import Bank of Korea got orders of nearly $6bn for a $1.5bn triple-tranche bond this week, showing the continuous appeal of deals from high quality credits.

Indian renewable energy company Continuum Energy Levanter made its debut in the dollar bond market this week, more than three years after pulling its initial attempt. However, it had to offer investors incentives to seal the $561m deal, writes Morgan Davis.

A $390m loan backing CVC Capital Partners’ acquisition of Myanmar’s Irrawaddy Green Towers (IGT) was abruptly put on hold this week after political turmoil rocked the country following a military coup. Pan Yue reports.

China Fortune Land Development’s domestic and offshore bonds swung this week after the property company admitted to onshore defaults worth Rmb5.255bn ($813m), adding to ongoing concerns about its liquidity condition and access to funding. Addison Gong reports.

Nomura’s new chief executive is off to a strong start. Mark that down as a point for investment bankers.

A handful of Chinese companies managed to hit the bond market on Wednesday for new deals, ahead of not just the upcoming Chinese New Year break but also the jumbo outing launched by Alibaba Group Holding on Thursday.

The march of sustainability-linked bonds continued on Wednesday, as Surbana Jurong, the architecture and engineering consultancy that has built more than 1m homes in Singapore, launched the first such deal in Singapore dollars and one of the first in Asia. It also comes from a new sector.

Nomura said that net revenues in its investment banking business for the last three months of 2020 were the highest in nine years. Yet while it was a good quarter overall for the firm's wholesale business, revenue fell year on year in Europe, the Middle East and Africa.

China Industrial Securities Co priced its $300m bond at a tighter level than expected due to support from its hefty syndicate team, defying concerns even among some of the banks on the transaction whether the issuer would hit its funding target.

Lippo Malls Indonesia Retail Trust printed a $200m bond on Tuesday, with investors largely brushing off concerns about the hit to the borrower's business during the pandemic.

Chinese biopharmaceutical duo WuXi Biologics (Cayman) and InnoCare Pharma raised a combined HK$16.2bn ($2.1bn) on Tuesday from selling new stock.

Chinese financial leasing company Far East Horizon returned to the offshore renminbi (CNH) bond market on Tuesday for its largest deal in the currency.