Asia Pacific

Dollar bonds sold by Bank of Communications and Industrial and Commercial Bank of China widened in the aftermarket on Tuesday after both firms took a tight approach to pricing.

A recent surge in dollar bond supply tempered enthusiasm among investors for Vista Land & Lifescapes’ $200m outing.

Chinese high yield names continued to flow into the offshore market this week. Property developer RiseSun Real Estate Development Co took $250m from a 364-day bond, and financial firm Tongchuangjiuding Investment Management Group Co raised $300m.

Indian solar power company SB Energy pulled its planned dollar bond late on Monday after grappling with a soft market backdrop and investor demand for a juicy premium.

The Shenzhen Stock Exchange (SZSE) has waved through the first three IPOs on the ChiNext board under the new registration-based system, just one month after the reform was implemented.

The China Securities Regulatory Commission has kicked off its annual rating process of domestic securities houses after updating several grading metrics and adding two bonus criteria.

Troubled Chinese coffee chain Luckin Coffee has appointed a new chairman of the board after founder Lu Zhengyao was voted out of the position by shareholders.

Cifi Holdings (Group) Co sold its first green bond on Monday, raising $300m from a deal that received $2.25bn of investor order at its peak.

Ayala Land Real Estate Investment Trust (AReit) has got the preliminary greenlight from the Philippines’ securities regulator for the country’s first Reit IPO.

Bank Rakyat Indonesia has opened a $1bn loan into general syndication with a group of 10 lenders at the helm.

A veteran Citi banker who had been with the US firm for nearly two decades has joined CMB International Singapore.

Following investor calls last Friday, two public sector borrowers hit the market for new dollar bonds on Monday, with IDB Invest going for a three year maturity and the Japan International Cooperation Agency making a rare appearance for a 10 year trade.