Asia Pacific

Indian borrowers are finally returning to the offshore loan market after months of little to no action. But even as a pipeline builds, bankers remain wary of challenges around execution. Pan Yue reports.

Sometimes, it seems, the best way to get to know a friend is not through drinks, but from the news.

Chinese property company Agile Group Holdings raised $300m from its Wednesday bond sale, but found less investor support than excepted.

Goldman picks Drayton as Asia IB co-head — Credit Suisse names new Japan IB chief — Li to retire early from HKEX — ANZ appoints Philippines head

Philippine carrier Cebu Air is looking to tap the equity markets for $500m, in an attempt to position itself for a recovery from the impact of the Covid-19 pandemic.

Singapore-incorporated global energy business Puma Energy has pulled a planned dollar bond that was set to refinance an existing loan. The company attributed it to a lack of conducive market conditions, though investors say the issuer's credit story was unconvincing.

Sumitomo Mitsui Trust Bank (Sumitr) mustered a reasonable order book for its debut contractual covered bond issued on Wednesday, and was able to meet its minimum size ambition at a fair spread.

Indonesia’s Star Energy Geothermal found solid investor demand for Asia’s first dollar-denominated project bond of the year. The deal was helped by the issuer’s investment grade rating and a green label that helped reduce pricing. Morgan Davis reports.

US investors shrugged off concerns over tensions between their country and China to support internet company Baidu’s $950m dual-tranche bond outing this week.

Sheng Ye Capital, a Hong Kong-listed financial services provider, has made its debut in the syndicated loan market. It is raising funds in offshore renminbi.

Export-Import Bank of Thailand priced its $350m bond inside fair value on Tuesday, riding on its scarcity value in the international market, as well as a reasonably slow week for deal flow in Asia.

Weihai City Commercial Bank has bagged HK$2.9bn ($374.2m) after pricing its IPO at the bottom of the marketed range, according to a source close to the deal.