Asia Pacific

Weak investor sentiment, oversupply and aggressive pricing strategies hurt the Asian dollar bond market this week. As issuers rushed to sell deals before China’s Golden Week holiday and the US presidential election in November, many were left with transactions that fell short of expectations or slumped in the secondary market. Morgan Davis reports.

Taiwan Semiconductor Manufacturing Co (TSMC) raised $3bn from a triple-tranche bond sale on Wednesday.

When you go down to the woods today, you’ll be in for a big surprise — hedge fund managers.

ANZ has appointed Rufus Pinto as its country head for the Philippines, effective Thursday.

Chinese companies Chindata Group Holdings and Yalla Group have kicked off their US IPOs, testing investor appetite at a time when sentiment is weak and major equity markets have taken a hit.

GlobalCapital Asia is pleased to invite pitches for our annual capital markets and investment banking awards, which recognise the most impressive transactions and investment banks of 2020.

China Yangtze Power, a Chinese utility company, has launched its listing on the London Stock Exchange, becoming the third company to list in London through the London-Shanghai Stock Connect scheme. The deal is expected to be worth up to $3.4bn.

Australia’s fourth syndication of its financial year has set a new size record — the third time it has done so in as many months — but despite the wave of Australian govvie supply, demand still seems fierce.

Chinese rating agencies are facing increasing pressure, after the country’s securities association said it had found evidence of firms inflating ratings to win business. Addison Gong reports.

China Yangtze Power Co has won approval from the Mainland regulator to push ahead with its IPO on the London Stock Exchange.

China Merchants Bank raised $700m from a dual-tranche transaction on Tuesday, marketed by two different overseas branches with two different structures. But the issuer ran into negative market sentiment that dented appetite for the deal.

China Development Bank Financial Leasing Co had to tackle questions from investors and weaker market conditions to sell the first dollar tier two bond from a Mainland leasing company.