Asia Pacific

Bonds from India’s Future Retail rallied in the secondary market this week, after Reliance Industries got approval to buy the struggling business.

Chinese domestic bond investors got a break from a wave of recent selling pressure this week, after a statement from a powerful financial regulator and a repayment pledge from one beleaguered issuer. But high-profile defaults continue.

United Overseas Bank has mandated leads for the first euro covered bond benchmark from a Singapore lender since September 2018. The deal takes advantage of the Monetary Authority of Singapore’s (MAS) recent decision to increase covered bond issuance capacity.

China Evergrande Group got a boost to its bond and stock prices on Monday, after its flagship subsidiary convinced a large group of equity holders not to exercise a put option. The company also secured two new state-backed investors.

Touch screen manufacturer General Interface Solutions, an affiliate of Foxconn Technology Group, is seeking a $300m loan to refinance a deal set to mature next year.

In this round-up, Beijing says it has suspended $2.1bn in debt payments from two dozen nations under the G20 framework, and the top Chinese financial regulators send strong signals to the onshore market in the wake of a string of domestic bond defaults.

India’s securities regulator has proposed slashing the minimum required share offering of large IPOs, helping the country’s biggest companies comply with listing rules.

China's Evergrande Property Services Group has kicked off its IPO, aiming to raise up to HK$15.8bn ($2bn) with strong support from friends-and-family investors.

Two Chinese banks have agreed to arrange a $1.1bn loan to support China Biologic Products Holdings’ delisting from the Nasdaq stock exchange.

The Republic of Uzbekistan, which debuted in international debt markets just last year, sold a dual currency bond this week, as foreign investors eyed up an Uzbek som tranche.

In this round-up, the interbank bond market regulator announces stricter rules for domestic bond issuance, the investigation into firms linked to a defaulted state-owned issuer widens, and China reduces its holding of US Treasury bonds for four straight months.

China Development Bank returned to the offshore renminbi bond (CNH) market after six years with the largest print in the currency for 2020.