Asia Pacific

Bohai Bank wrapped up a billion-dollar-plus Hong Kong IPO this week. The issuer, one of China’s last remaining joint-stock commercial banks to go public, rode the tail end of a hot period for the city’s IPO market. Jonathan Breen reports.

Philippine issuers are flooding the market with dollar bonds, giving investors an unprecedented selection of deals from the country. There is plenty more to come. Morgan Davis reports.

Studio City Finance restructured its debt portfolio with a $1bn bond sale on Wednesday.

ABC International Holdings raised $450m from a three year bond on Wednesday, thanks in part to backing from the 23 banks that ran its transaction.

When I was a banker, you only signed a non-disclosure agreement if you had serious interest in joining a deal. Not anymore.

Philip Brown and Sanaa Mehra are leading a new unit at Citi, the latest the bank has designed for its sustainable finance business.

Chinese property company Tahoe Group defaulted on an onshore bond this week because of struggles with tight liquidity, limited market access and poor corporate governance. But its shares still ended up soaring amid a mainland-wide rally in stocks. Addison Gong reports.

Property managers Zhenro Services Group and Greentown Management, along with developer Ganglong China, all priced IPOs this week, albeit with different responses from the market.

Chinese property companies Kaisa Group Holdings, Yango Group Co and Overseas Chinese Town (Asia) Holdings raised a combined $1.5bn from their bonds on Wednesday.

Huawei Technologies, sanctioned by the US and now having its participation in the UK's 5G network questioned by the government, looked into raising hundreds of millions of euros in the Schuldschein market two years ago. But concern that buyers would freeze at a groundswell of negative news, whipped up in part from the US, scared the Chinese company off taking the risk. Its increasing isolation in major European countries means it is unlikely to use its capital markets any time soon.

A big rally in China’s stock market this week ended up hitting bond prices onshore — and sparked worries about the sustainability of the equities rebound.

Indonesia’s Perkebunan Nusantara III (PTPN) is seeking lenders’ go-ahead for a debt restructuring plan, after missing the principal payment on a $390.6m loan at the end of June.