Asia Pacific

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Singapore’s United Overseas Bank issued a A$500m ($362.2m) bond in Australia on Friday, as a lack of financial paper in the market drove investor demand.

In this round-up, China wants to improve the quality of domestic listed firms to cut down financial crime, Shenzhen opens the door for increased foreign inflows for the next five years, and Standard Chartered applies to the securities regulator to set up a securities firm onshore.

Standard Chartered this week became the first bank to launch a Sofr-linked deal in the 144A/Reg S dollar market, as it looked to introduce the Libor replacement rate to a more global audience.

Banque Fédérative du Crédit Mutuel made its annual visit to the Samurai bond market this week, raising ¥63.6bn ($600m) across three tranches in a senior preferred format.

Kyle Bass, made famous by shorting the US housing market in the run up to the financial crisis, has told GlobalCapital that the Chinese state is a paper tiger on the road to collapse. The Texan, who has been on a fierce campaign against the Chinese Communist Party for years now, says that US politicians are finally catching up with his position.

Converge ICT Solutions, an internet service provider, has bagged Ps25.2bn ($521.1m) from its Philippine IPO after pricing the stock just off the bottom of the marketed range.

In this round-up, China joins an initiative backed by the World Health Organization for fair global access to Covid-19 vaccines, the country’s foreign exchange reserves slide, and US president Donald Trump continues blaming Beijing for causing the pandemic.

Excellence Commercial Property and Facilities Management Group has closed its IPO early on the back of strong investor demand. It is looking to price its deal at the top of the range, according to a source close to the listing.

Kasikornbank Public Co rolled out its first Basel III-compliant additional tier one subordinated dollar transaction on Thursday. The Thai borrower bagged $500m on the back of an orderbook that reached $2.5bn at its peak.

Chinese startup Dida, a ride-sharing platform, is looking to float on Hong Kong’s stock exchange, having filed a draft prospectus with the bourse.

Bank of Communications has hired Raymond Yip to its loans team in Hong Kong.