Asia Pacific

India’s Glenmark Pharmaceuticals has returned to the loan market after an absence of more than 10 years. It is seeking a $175m deal.

Taiwan’s Chailease International Finance Corp has launched its fifth loan of the year to the market. It is eyeing up to $100m through its Thailand subsidiary.

Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees.

The State Administration for Market Regulation (Samr) has concluded a five month investigation into Luckin Coffee over unfair competition, fining the company and nearly four dozen others that were also involved a total of Rmb61m ($9m).

SCG Packaging is set to begin investor presentations for its up to Bt39.5bn ($1.26bn) IPO, which will be Thailand’s second largest listing in 2020.

CCB Leasing’s plans to raise $500m were scuppered after markets tanked and investor sentiment took a hit on Monday. The Chinese firm was forced to adjust its expectations for a smaller $300m bond.

Formosa Plastics Corp is preparing to set a new pricing benchmark with its planned $2bn loan, which bankers reckon could set a record low for a borrower from Taiwan. If the company succeeds, this could set a dangerous precedent for the long-term health of Asia’s loan syndication market.

Kingsoft Cloud Holdings has hit the market with a follow-on offering of new and existing American Depository Shares (ADS).

Following investor calls last week, the Asian Infrastructure Investment Bank and the New Development Bank hit screens on Monday to announce new dollar benchmark transactions, which will be used to support their member states in the fight against the coronavirus pandemic.

Government-owned Bank of India has won approval from its shareholders to raise up to Rp80bn ($1.1bn) in fresh capital.

Ant Group is one step closer to launching its blockbuster dual listing in the Mainland and Hong Kong, after the Shanghai bourse gave its blessing to the Star market leg of the IPO.

US private equity giant Blackstone has sold a chunk of shares in Essel Propack, a tube-packaging and manufacturing company, for Rp18.6bn ($253.7m).