Asia Pacific

In this round-up, China produces a sanctions list in response to a similar move by the US, multinational companies raise concerns on US president Donald Trump’s executive order against Tencent’s WeChat, and Chinese telecommunications firms will be barred from taking part in India’s 5G trial.

Indonesian tanker company Soechi Lines, which is facing a big hit to its shipyard operation, is in discussions with banks for a refinancing loan.

Yuexiu Transport Infrastructure, a Hong Kong-listed red Panda issuer, returned to the renminbi market this week for a small Rmb500m ($72m) bond. The issuer wrapped up the deal after extending the bookbuilding period by half a day.

The Kingdom of Thailand pulled off a novel sustainability bond in the domestic debt market on Thursday, hitting the upper end of its Bt30bn ($965m) size target and getting away with tight pricing.

Singapore fintech BondEvalue launched BondbloX Bond Exchange this week, which claims to be the first blockchain-based exchange in the world, with the maiden trade executed on a bond from commodities giant Olam.

Yunnan Provincial Energy Investment Group Co added a dash of variety to bond supply from China’s local government financing vehicles, by selling a $300m dual-tranche deal that combined a senior unsecured portion with an unsubordinated perpetual.

Hong Kong-listed Summit Ascent Holdings, an investment holding company focused on operating resorts, is planning a rights issue worth HK$1.6bn ($206m).

Cigarette packaging producer Amvig Holdings has closed its HK$1.35bn ($174m) loan with seven lenders.

Singapore Exchange (SGX) revealed a new suite of Asian equity derivatives this week, as it gave investors a look at what its strategy after winding down its high profile licensing agreement with MSCI will be.

Troubled Chinese local government financing vehicle Beijing Haidian State-owned Assets Investment Group (Haidian SAIG) finally managed to sell a bond without mishaps on Wednesday. The trade is a win for the issuer, especially since it has been receiving the cold shoulder from the market since July, but the LGFV may need to address deeper-seated problems in future outings, said bankers. Rebecca Feng reports.

Ke Holdings sealed a $2.12bn IPO on the New York Stock Exchange this week, the largest US listing by a Chinese firm in more than two years, defying the shock caused by US sanctions against one of its largest shareholders, Tencent Holdings. Jonathan Breen reports.

Hong Kong rail operator MTR Corp priced a larger and tighter green bond than expected this week, with investors showing their faith in a company that has been forced to battle protests and the pandemic in the past year. Morgan Davis reports.