Asia Pacific

Industrial and Commercial Bank of China raised a smaller than planned $2.9bn from its additional tier one outing, buffeted by a surge in supply this week and a softer market backdrop. Alice Huang reports.

Haitong hires IB vice-chairman – Bank of America recruits from HSBC

US-listed Chinese companies Zai Lab and Baozun have kicked off secondary offerings on the Hong Kong Stock Exchange, adding further momentum to the city’s already hot equity capital market.

Bank of China took yet another step this week to build China’s sustainability market by selling Asia’s first blue bond to benefit ocean-related projects — opening the door for similar deals from the region. Morgan Davis reports.

Hong Kong Broadband Network is enticing banks to a HK$5bn ($645m) loan by offering them a juicier margin than previously.

Singapore’s Farrer Park Co has become the latest company from Asia to tap the green loan market, raising a S$200m ($147m) facility from United Overseas Bank.

Chinese issuers opened the Covid-19-linked bond market this year, tapping the capital markets to raise funds for relief from the health and economic effects of the virus. More deals have since popped up both in Asia and the world, and experts say the pandemic will change the way issuers and investors think about social bonds in future.

Bankers are famous gossips. They like nothing more than talking about the revolving door of job moves in the industry, the embarrassing slip-ups rivals have made with clients or the scandals that can result when alcohol and the capital markets collide. But although the rumour mill ensures bankers know plenty about other firms, they don’t always know what’s going on at their own.

The New Zealand Treasury reduced its 2020/21 funding programme by NZ$10bn ($6.75bn) to NZ$50bn on Wednesday as its economy shows signs of a quicker recovery than seemed likely after the coronavirus lockdown earlier this year.

Beijing Construction Engineering Group has returned to the debt market for a $350m term loan.

China’s Avic International Holding Corp raised $300m from its bond outing on Tuesday.

Ganfeng Lithium, the world’s largest producer of lithium metals, has raised HK$1.46bn ($187.8m) from the sale of primary shares.