Asia Pacific

A pair of Asian banks tapped the Australian dollar bond market for a combined A$1.25bn ($880m) on Tuesday. A number of banks have visited the Aussie market in recent weeks to great success, and more are set to follow.

China wowed investors last week with a $6bn 144A bond amid a trade war with the US, but it missed a chance to solidify its credentials in the socially responsible bond market.

China has announced a new registration system for credit asset-backed securitization (ABS), cutting the time it will take bankers and their clients to bring new deals to the market.

Korea Development Bank took $1bn from a dual tranche transaction on Monday, using a social label for one portion of the bond to attract a new group of investors.

Simcere Pharmaceutical Group has bagged HK$3.57bn ($460.6m) from its IPO, after sealing the offer at the top end of the price guidance, according to a source familiar with the deal.

More Singaporean companies are making the transition to a new local currency benchmark rate in preparation for the end of Libor, with Sembcorp Industries becoming the latest firm to raise a loan linked to Sora.

China Development Bank (CDB) raised nearly $3bn from dollar and euro bonds on Monday, appealing to investors due to its rarity in the debt market.

Ant Group has got the go ahead from regulators for the Hong Kong portion of its dual listing, which is expected to raise around $30bn in the largest ever primary share offering globally.

Singapore-listed Mapletree Logistics Trust is funding an acquisition spree of logistics assets in Asia by tapping the equity market for up to S$650m ($479m).

Shimao Services has joined the stream of Chinese property managers listing in Hong Kong this year, kicking off bookbuilding for its up to HK$10.1bn ($1.3bn) IPO.

Indonesia’s Pan Brothers has requested Moody’s to withdraw its corporate issuer rating after a spate of downgrades this year, as the textile company struggles to put together a loan to meet some of its looming maturities.

JW (Cayman) Therapeutics has launched pre-deal investor education for its Hong Kong IPO, setting the final stage of the deal ahead of launch in motion.