Asia Pacific

Chinese domestic bonds plummeted on Tuesday and continued their fall on Wednesday morning, amid growing concerns around recent tight liquidity conditions onshore and a potential tightening in monetary policy.

More Chinese real estate borrowers headed to the dollar bond market on Tuesday, as bankers tackle a supply rush in the lead up to the Chinese New Year holidays in mid-February.

Hong Kong-listed Sun Hung Kai Properties has returned to the loan market for a HK$5bn ($645m) club deal. It is testing lender appetite at a time of growing selectiveness around the sector.

Indonesian mining company Bukit Makmura Mandiri Utama (Buma) returned to the bond market on Tuesday to raise $400m after a three-year hiatus.

Hyundai Heavy Industries Co is planning an IPO later this year in South Korea. It is looking to raise W1tr ($905.5m) to invest in new technologies.

China Citic Bank Corp has raised $550m from its return to the public dollar debt market after a break of more than three years. The bank priced inside fair value estimates, leading to a large drop in the final order book.

Malaysia-based Catcha Group is floating a southeast Asia-focused special purpose acquisition company (Spac) on the New York Stock Exchange.

Chinese conglomerate Fosun International has cut pricing on a new $560m-equivalent multi-currency loan, as it counts on banks’ hunger to lend amid slow deal flow to push its transaction past the finish line.

BNP Paribas has hired veteran banker Rahul Mundra to its loan syndication team in India.

The Singapore Exchange’s plan to get in on the rush to list special purpose acquisition companies (Spacs) is a bold move that could give it an edge over regional rivals. But there are plenty of obstacles — and its efforts may well be futile.

Chinese technology giant Tencent Holdings is talking to its relationship banks for a jumbo $6bn loan, opting to once again favour a club deal over syndication in a bid to save on funding costs.

Solid demand from investors for Woori Bank's sustainable bond on Monday allowed the South Korean borrower to price its $550m deal at an ultra-tight spread.