Asia Pacific

Kookmin Bank’s move to print a dollar bond to raise money for Covid-19 relief shows that sovereigns, government-owned banks, agencies and multilateral development banks are not the only ones that can help tackle the pandemic. Privately-owned firms also have a big role to play in global stimulus efforts.

The African business unit of China Nonferrous Metal Mining (Group) Co, a mainland state-owned company, is tapping the offshore loan market for the first time, seeking $300m.

Capital markets bankers wondering about a possible ‘summer slowdown’ in transactions should put the thought firmly out of their heads. This year, the traditional break in August is likely to be replaced by an all-hands-on-deck approach to tackle the deal backlog.

India’s state-owned Bank of Baroda has won approval from its board of directors to raise up to Rp13.5bn ($1.77bn) in fresh capital.

Hong Kong-listed Country Garden Services Holdings has tapped equity-linked investors for HK$3.88bn ($500m), selling a sub-one year zero coupon convertible bond.

Beijing Enterprises Clean Energy Group (BECE) has returned with a three year renminbi-denominated puttable bond, bringing yet another green transaction to the Panda market.

The Covid-19 pandemic is an ESG issue. More than ever before, a natural phenomenon is driving markets. Suddenly, social responsibility is no longer kooky but required of all. How are responsible investors reacting — and can the crisis lead to a better model of financial markets, where all stakeholders are considered?

Adani Electricity Mumbai has decided to close its debut offshore borrowing as a club deal with eight banks, bringing an end to long-running discussions about a possible syndication.

Indonesia’s Sarana Multi Infrastruktur (SMI) has mandated five banks for a planned $500m refinancing loan. But bankers on the deal warn the terms could change due to uncertain market conditions.

Property management company Central China New Life carried out accelerated pre-marketing for its Hong Kong IPO this week, said a source close to the deal.

In this round-up, March trading volume soars in the onshore bond market but dips in stocks, China’s industrial profits decline sharply for the first quarter, and the securities regulator says it will not tolerate fraudulent behaviour.

China's Ebang International Holdings, a cryptocurrency mining hardware maker, is planning a US IPO that could raise up to $100m. It follows in the footsteps of Canaan Creative, which listed last November but has since seen its stock price tumble about 53%.