Asia Pacific

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.

Chinese companies Simcere Pharmaceutical Group and First Service Holdings have started testing investor appetite for their Hong Kong IPOs.

Credit Suisse has made several senior changes to its financing group in Asia Pacific.

Though China has increased co-operation with Central and Eastern European nations in recent years, provoking some concern in the EU, investment volumes remain muted. Non-EU nations in the Balkans, however, offer a chance to progress on the Belt & Road initiative

Multi-field cooperation and integration

Woori Bank is set to make its Kangaroo bond debut, seeking to tap the Australian dollar market to fund its coronavirus response.

Indian conglomerate Reliance Industries has made a quick return to the loan market, raising a $1bn facility to refinance a bond maturing later this month.

Mr DIY Group has kicked off the roadshow for its MR1.5bn ($362.7m) IPO, set to be Malaysia’s largest listing in over three years.