Asia Pacific

Philippine conglomerate San Miguel Corp sold its first perpetual dollar bond on Wednesday, returning to the debt market after a seven year hiatus.

Reports that the European Central Bank (ECB) could ask banks to suspend dividend payments until the end of 2020 sent subordinated debt higher and stocks lower this week.

Singaporean commodities company Trafigura has returned to the loan market for its annual borrowing, seeking a $1bn-equivalent dual-currency deal.

Future Retail has missed a payment on a $500m debut bond, sold just six months ago, as Covid-19 hits the Indian company’s business.

GLP, a Singapore-headquartered global logistics facilities provider, sold a Rmb2bn ($286m) Panda bond on Wednesday. The company, once a frequent issuer in the onshore renminbi market, returned after a long absence.

Investors were unfazed by State Power Investment Corp’s (SPIC) move to tighten pricing on a $1bn bond by 52bp. The Chinese company’s deal was six times oversubscribed at its peak, and only tightened further in the secondary market.

Franck Lacour is taking over HSBC’s equities business, with Hossein Zaimi leaving the bank. In Hong Kong, Selene Chong will take on new responsibilities in the equities business.

The Australian Treasury has chosen the banks that will lead its new June 2051 syndicated offering, which is expected to take place next week.

Singapore’s stock exchange and Nasdaq have extended a partnership for dual listings on the bourses with an agreement to co-operate on regulatory matters.

ICBC International Holdings found a positive window to sell a five year bond on Tuesday, riding the uptick in market sentiment to price a $700m transaction inside fair value.

Mindspace Business Parks Real Estate Investment Trust has finalised the price guidance for its up to Rp45bn ($603.9m) IPO in India, set to be launched next week.

Boqii Co, a Chinese pet-focused e-commerce site, is working on a Hong Kong listing that could raise up to $150m, according to a source familiar with the matter.