Asia Pacific

Castle Peak Power Co’s latest energy transition bond shows the potential of the product in Asia — and the big role capital markets can play in moving towards a greener future.

Indomobil Finance Indonesia has launched a $240m borrowing into general syndication, changing its approach to the fundraising after market sentiment improved.

Clean, green energy exists; it is more or less unlimited and it is increasingly cheap to harvest through solar and wind farms. Why are we not converting to renewables wholesale — especially in poor countries, which tend to have abundant sunshine? A significant part of this market failure is financial, and capital markets must solve it.

Zhen Ding Technology Holding tapped the equity-linked market on Monday with a zero coupon convertible bond.

China’s ChiNext board, which focuses on innovative companies and start-ups, has started accepting listing applications as it kicks off a reform centred on a registration-based IPO system.

Fosun International pushed pricing aggressively for a new deal on Monday, but the $600m bond still surpassed its size expectations.

CLP Power Hong Kong has added $750m to its coffers from a dual-tranche bond, taking advantage of the hot demand for its subsidiary’s recent issue to attract investors.

Mapletree Industrial Trust is looking to raise at least S$350m ($251.5m) from an issue of primary units.

Thai rubber glove maker Sri Trang Gloves is set to raise Bt14.9bn ($481.4m) from its IPO, capitalising on a surge in demand for its products caused by Covid-19.

MicroPort Scientific Corp raised HK$1.55bn ($200m) on Monday after selling a chunk of new stock.

Banks have shown quick interest in a new $500m loan from Indonesia’s Sarana Multi Infrastruktur (SMI), which is wooing lenders with a short tenor deal.

Electricity company Perusahaan Listrik Negara (PLN) rode on the coattails of the Indonesian sovereign’s dollar bond sale to raise $1.5bn this week.