Asia Pacific

Asia’s first blue loan has sparked debate among market observers about the potential of the asset class amid rising interest from borrowers for ESG-focused funding. While expectations are high for the blue loan market’s development in 2021, challenges remain, writes Rashmi Kumar.

Well, dear readers, who could have guessed what this year would bring?

Embassy Office Parks Real Estate Investment Trust has has raised Rp36.84bn ($500.9m) from an issue of new stock, according to a source close to the deal.

Kerry Express, a Thailand-based delivery company, has raised Bt8.4bn ($279.5m) after sealing its IPO at the top of the marketed range.

Shandong Ruyi Technology Group Co’s dollar bonds fell to a new low this week after it defaulted on two onshore trades, adding to a spate of missed payments from Chinese companies recently.

Chinese streaming platform iQiyi has kicked off a combined convertible bond and follow-on offering that could raise around $1.7bn.

Gaming company Wynn Macau benefitted from a revival in sentiment around the casino industry for its bond return on Tuesday. It raised $750m from a tap of its 5.625% 2028 notes.

U Life Services Group, a Chinese property manager, is looking to Hong Kong’s bourse for fresh capital to fund expansion.

Adani International Container Terminal Private (AICTPL), part of India's Adani Group, sold its inaugural dollar bond on Monday. It raised $300m after receiving orders worth $2.85bn.

AirAsia X is looking to raise MR500m ($123m) from a rights issue and a placement of new stock to some shareholders.

Aabar Investments has pocketed MR932.4m ($229.4m) after selling down its remaining position in Malaysia’s RHB Bank, according to a source close to the deal.

Small appliance retailer Vesync has bagged HK$1.55bn ($200m) from its Hong Kong IPO, pricing the deal at the top of the guidance range.