Asia Pacific

There are many reasons to like Hong Kong, despite the goings-on in the city these days. I should know, having lived here for many decades.

International Container Terminal Services (ICTSI) raised $400m in the international bond market on Wednesday despite the Covid-19 pandemic challenging the Philippine issuer’s transaction.

Simon Field, who spent many years in HSBC’s global banking team looking after public sector clients, has taken up a new position as global head of escrow.

Belle International is selling a block of shares in its sportswear subsidiary, Topsports International Holdings, according to a term sheet seen by GlobalCapital Asia.

Hong Kong’s renowned activist investor David Webb revealed this week that he has been diagnosed with cancer and will be taking a step back from his regular critiquing of governance and regulation in the city.

UPL Corp broke a month-long absence of Indian issuers in the international debt market, raising $500m from investors.

58.com, a Chinese company that focuses on online classified advertisements, is in talks with banks in the country for a financing package of $3bn to support its take private.

Chinese real estate companies China Fortune Land Development and Ronshine China Holdings raised a combined $550m in the bond market on Tuesday, but their tight pricing did not appeal to all investors.

China’s two major stock exchanges have published guidelines on how bond issuers should change the coupons on outstanding deals, reacting to a wave of coupon reductions that occasionally led to confrontations between investors and issuers.

SK Biopharmaceuticals has begun bookbuilding for its up to W959.3bn ($804.9m) IPO. It is set to be South Korea’s first listing in 2020.

Everbright Water pulled a Rmb1.2bn ($170m) five year note on Tuesday, despite the leads extending bookbuilding and offering investors a juicier price.

China Yongda Automobiles Services Holdings has added HK$994.8m ($128.4m) to its coffers after selling a chunk of stock in a top-up placement.