Asia Pacific

Yorkshire Building Society (YBS) has mandated leads for the first euro covered bond from the UK since January, My Money Bank has also mandated and, after concluding a roadshow, Sumitomo Mitsui Trust Bank is due this week too. All three bonds will offer a temptingly high spread.

Goldman Sachs has appointed Iain Drayton as co-head of investment banking for Asia ex-Japan, according to an internal memo seen by GlobalCapital Asia.

ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has picked six banks for a $700m borrowing.

Philippines-based internet services provider Converge ICT Solutions has kicked off the roadshow for its up to Ps28.6bn ($590.4m) IPO, set to be the country’s largest ever public offering.

One of Doosan Fuel Cell Co’s major shareholders is offloading its stake in the South Korean eco-friendly cell maker for up to $353m-equivalent.

Indonesian property company Alam Sutera’s move to kick off an exchange offer last week to stave off pressing financial concerns was met with ratings downgrades from two of the three global ratings agencies.

Brookfield Asset Management is readying the IPO of its Indian real estate investment trust, which could raise up to Rp38bn ($519m) in primary proceeds.

Credit Suisse has appointed Ryuya Hishinuma to lead its investment banking and capital markets business in Japan, according to an internal memo.

In this round-up, China announces draft regulations for its global systemically important banks, both manufacturing and services activity expand in September, and the regulator for corporate Panda bonds releases details for easier issuance.

Kaspi IPO has officially launched its second attempt at a London listing and already built up a substantial shadow book of demand for the deal.

The Development Bank of Japan will kick-off a series of investor calls on Thursday for its first sustainability bond under its freshly updated framework, which includes assets related to its response to the Covid-19 pandemic.

Singapore’s DBS Bank ventured into the Kangaroo market on Wednesday in search of tier two debt. Though Australian dollar tier two volumes have remained stable year on year, there is a marked decline in offshore issuance so far in 2020.