Asia Pacific

China’s Belle International Holdings has returned to the loans market to refinance some of its debt, but has opted for a club loan this time around in a bid to cut costs associated with underwriting.

Siong Ooi, MUFG Bank’s co-head of debt capital markets, loans and bonds, has relocated to Sydney from Singapore.

Blackstone-backed Mindspace Business Parks Real Estate Investment Trust has kicked off a Rp45bn ($601.2m) listing in India.

ANZ has altered the pre-maturity test of the hard bullet transactions in its covered bond programme, by doubling the time the covered bond guarantor has to sell assets. The "investor-friendly" update, which improves rating stability, follows ANZ’s recent downgrade and could be of interest to other issuers in a similar situation.

Australia has launched its second syndication of its 2020-21 fiscal year on Monday morning, Sydney time, extending its curve out to 2051 with a new benchmark.

HSBC has become the latest bank to create a dedicated team for sustainable finance amid the coronavirus crisis. This is part of a new strategic solutions group, which will also house two other solutions units: one for corporate finance, and one for financial institutions and capital.

Indian Railway Finance Corp has returned to the Japanese market for a $300m-equivalent Samurai loan.

Li Auto, a Chinese electric vehicle maker, has opened books for an offering of American Depository Shares (ADS) on the Nasdaq.

Hong Kong Airlines has deferred a coupon payment on its perpetual dollar bonds.

Hangzhou Tigermed Consulting, a biopharmaceutical research and development service provider, has covered books on its secondary public offering in Hong Kong on the first day of taking orders.

In this round-up, China’s industrial profits jump for a second consecutive month, the securities regulator tweaks requirements around information disclosure by listed companies, and the Chinese finance minister says the country must continue to keep government debt risk at bay.

Philippine oil refining and marketing company Petron has warned its lenders about a potential covenant breach on two of its dollar loans.