Asia Pacific

Philippine telecommunications company PLDT made a stellar return to the debt market on Tuesday. It raised a modest $600m but received orders of more than $11bn at its peak, as investors fought for a piece of the rare issuer.

The Republic of Indonesia rolled out its annual Islamic finance transaction on Tuesday, taking $2.5bn from a three-tranche sukuk. The sheer strength of investor interest surprised the bankers on the bond, leading to a hefty 70bp tightening and a deal that offered negative new issue premium.

A spate of real estate and government-linked borrowers from Greater China flocked to the dollar bond market on Tuesday.

Chinese automaker Dongfeng Nissan sold a Rmb4bn ($564m) four tranche auto ABS transaction on Tuesday. The deal got strong demand, following a recent spike in onshore yields.

China Pacific Insurance (Group) Co has raised $1.81bn from its listing of Global Depository Receipts, becoming just the second company to use the London-Shanghai Stock Connect scheme.

JP Morgan has picked two of its own staff to fill newly-created posts as co-heads of investment banking across the Asean region.

Fast food restaurant franchiser Yum China Holdings is in the process of mandating banks for a secondary listing in Hong Kong, according to sources familiar with the matter.

ESR Cayman, a warehouse construction firm and lessor, is planning to list a real estate investment trust (Reit) in South Korea later this year, according to a source close to the transaction.

OCBC Group plans to hire more than 3,000 people in Singapore this year.

China will start selling the first batch of its Covid-19-themed ‘special treasury bonds’ this week. While it will only raise Rmb100bn ($14.1bn) initially, the overall target of Rmb1tr has raised some concerns around short-term liquidity in the market.

Castle Peak Power Co, a Hong Kong power generator, sealed a $350m energy transition bond on Monday. It was one of just a handful of these bonds sold in the world, and the second from Asia.

The board of India’s Shriram Transport Finance has approved a plan to raise up to Rp40bn ($525.5m) in fresh equity.