Asia Pacific

In this round-up, China joins a 12-country initiative to ensure supply chain connectivity, India has banned 59 Chinese apps including WeChat for being ‘prejudicial’ to its sovereignty and integrity, and tensions between China and the US are on the rise.

Philippine conglomerate JG Summit Holdings managed to tackle investor questions and scrutiny into the impact of Covid-19 on its business to make a rare bond market outing for $600m.

China’s leading detergent maker Blue Moon Group Holdings is planning to float in Hong Kong for around $1bn, according to a source close to the deal.

Tianjin Great Wall Binyin Automotive Finance is gearing up for a new Rmb3.37bn ($477m) auto loan ABS in China. For the first time, the issuer has obtained an international rating for its deal.

Powerlong Real Estate Holdings has raised a new offshore borrowing of $120m-equivalent, just two months after closing a $200m loan.

Unrated Swiss private railway operator Rhätische Bahn, owner of the UNESCO World Heritage-listed Bernina railway, made its second stop in the Swiss franc bond market this week, four years after its debut deal.

Deutsche Bahn tapped the Kangaroo and Swedish kronor markets on Wednesday after having spent the first half of 2020 focused on the euro market.

Shanghai Clearing House’s plan to show issuers a full list of their investors is causing alarm among some syndicate bankers — who admit to using highly questionable bookbuilding practices to impress their clients. Rebecca Feng reports.

Hong Kong has been my home for two decades, and there is so much I love about it — its vibrancy, the food, the people, and above all, the low tax rates.

Syndicate bankers are scrambling to make sense of the covered bond market, where sentiment has been changeable in recent weeks. Amid volatility and small issuance windows, sustainable bonds have proven a safe strategy to ensure successful deals.

Hong Kong’s IPO market had one of its busiest periods in years this week, with more than 10 live deals vying for investor attention. But bankers in the city are concerned by the ECM market’s dislocation with the social, political and economic backdrop. Jonathan Breen reports.

An Indonesian palm oil company has become the latest to fall victim to rising worries among loans bankers about government support. The company missed a payment last week, after bankers rejected an earlier covenant waiver request. Pan Yue reports.