Asia Pacific

A $600m loan to support Baring Private Equity Asia’s take-private of Indian software firm Hexaware Technologies has been launched into general syndication, with three banks joining at the top level.

Singapore’s agribusiness company Wilmar International has raised a S$200m ($146m) bilateral loan from DBS using the country’s new interest rate benchmark.

International Finance Corp sold the first Kauri bond in more than two months on Thursday, while in the Kangaroo market a pair of European agencies tapped a pocket of demand further down the curve.

Nomura has cut jobs in its investment banking business in Europe over the summer, following losses in leveraged finance, as its new chief executive eyes up other regions for growth, writes David Rothnie.

Chinese electric vehicle manufacturer XPeng raised $1.5bn this week, after increasing the size of its US listing and pricing it above the marketed range.

Ant Group started speaking to investors this week for mammoth IPOs on the Hong Kong and Star markets, which at an estimated size of $30bn would become the world’s largest ever share offering. The deal is a big win for both exchanges — and bankers in Hong Kong are also expecting a record fee from the deal. Jonathan Breen and Rebecca Feng report.

Tencent Music Entertainment Group (TME) attracted nearly $13bn of orders for its offshore bond debut this week. The company’s solid credit profile and backing from its parent helped win over investors. Morgan Davis reports.

Credit Suisse has named Carsten Stoehr as the head of its newly-created Asia Pacific strategic products (ASP) team, adding another job to a veteran banker who already runs Greater China.

Korea Expressway Corp made its debut in the Kangaroo market this week, taking A$450m ($324.6m) from a dual tranche deal.

CS appoints Stoehr to head new team – JPM’s China JV head leaves – Jain moves to DBS

Hong Kong property company Hysan Development Co made a quick return to the bond market on Wednesday. It added $200m to a perpetual non-call three year deal priced just last week, thanks to strong follow-up demand.

JP Morgan has made three senior changes to its equity research team in Asean.