Asia Pacific

Chinese battery maker Contemporary Amperex Technology Co (CATL) made its debut in the bond market on Thursday with a $1.5bn dual tranche deal that saw demand of nearly $14bn coming in.

Chinese property developer Xinyuan Real Estate Co, whose outstanding bonds have suffered because of the Covid pandemic, opted for size over price for its $300m return this week.

Chinese hospitality company Huazhu Group has launched a secondary offering in Hong Kong, the latest in a growing number of dual listings on the bourse.

Joy Spreader Interactive Technology kicked off its Hong Kong IPO on Thursday, aiming to raise up to HK$1.7bn ($225.2m).

Hong Kong-listed ESR Cayman pulled off its first convertible bond this week, signalling an increasing flow of deals to come to the Asian equity-linked market. The company took advantage of its surging stock price and a hot reception from investors to raise $350m. Jonathan Breen reports.

It can occasionally be tempting for a young banker to pull a sickie to spend a day with friends. But sick days are best spent under the cover of darkness — not in the searing sun.

AIA Group has issued a $1.75bn subordinated bond, which will be the first to qualify as tier two capital under a new regulatory framework in the works in Hong Kong. Alice Huang reports.

The Indonesian government’s move to shut down a committee exclusively focused on approving offshore loans from borrowers is getting its first test, as Pertamina lines up a $3bn deal for the acquisition of energy assets. Despite the change coming into effect about two months ago, there is still uncertainty around how the new process will work, writes Pan Yue.

Minsheng appoints new syndicate head — MUFG hires in Vietnam

Chinese local government financing vehicle (LGFV) Linyi City Construction Investment Group Co raised $300m from its inaugural transaction against a weaker market backdrop.

The Republic of Korea wowed investors in the dollar and euro markets on Wednesday, with a record $1.45bn-equivalent dual-tranche bond. The deal, split between 10 year dollar and five year euro notes, was priced at ultra-tight spreads — including a negative yield for the euro tranche. Morgan Davis reports.

The World Bank has selected a trio of banks for a new 15 year Sustainable Development Bond (SDB), its first euro benchmark of its 2020/21 fiscal year. Elsewhere, the Republic of Korea scooped €700m with its return to the euro market after a six year absence.