Asia Pacific

Asia’s primary bond market started on a slow note on Monday, surprising debt bankers who were gearing up for strong deal flow. But recent announcements from the US over China investment, coupled with rising US Treasury yields and a default in the Mainland bond market, have given issuers some pause.

In this round-up, 15 countries in Asia Pacific seal one of the largest ever trade agreements, China’s banking and insurance regulator relaxes rules for equity investments by insurers, and AllianceBernstein Hong Kong eyes a mutual fund licence onshore.

In this round-up, October headline Consumer Price Index (CPI) inflation hits a 11-year low, the Chinese and Italian finance ministers promise to work on the two-way opening up of the countries’ financial markets, and the top market watchdog readies anti-monopoly rules for the internet sector.

Chinese property management firm Sunac Services has priced its Hong Kong IPO at the middle of guidance, bagging HK$8bn ($1.03bn), according to a source close to the deal.

Government-backed Chinese issuers Shandong Hi-Speed Group Co, Wuhan Trading Group and a local government financing vehicle from Xi’an ventured to the offshore dollar bond market on Thursday. They raised a combined $880m.

South Korea-based ESR Kendall Square is set to launch a W357.3bn ($320.3m) IPO for its real estate investment trust (Reit).

Chinese dairy products manufacturer Inner Mongolia Yili Industrial Group Co made its inaugural appearance in the offshore bond market on Thursday. Huaxin Cement Co also printed its first dollar deal.

Flag-carrier Singapore Airlines issued a S$850m ($629.6m) convertible bond this week, taking advantage of a surge in equity markets to signal confidence to investors.

JP Morgan has hired Rita Chan as head of real estate investment banking for Asia ex-Japan.

Société Générale was set to launch a popular additional tier one deal in the dollar market on Thursday, as investors spied an opportunity to gain a little pick-up over other French bank credits.

Renewed concerns over Chinese chipmaker Tsinghua Unigroup Co’s debt repayment abilities led to sharp drops in its onshore and offshore bonds this week. Addison Gong reports.

StanChart's Sameer Chandra has died — ICBC Asia syndicate boss leaves — RHB names two senior posts — UBS chooses India head — StanChart's Robins retires — HKMA, IFC team up for green finance