Asia Pacific

China Gas Holdings, a Hong Kong-listed natural gas distributor, doubled the size of its onshore renminbi deal to Rmb1bn on Monday, selling just the second Panda bond linked to combatting woes caused by Covid-19.

Months of bidding for UK retail giant Tesco’s Asia business has finally ended, with Charoen Pokphand Group emerging victorious. Three banks have provided financing to the Thai conglomerate to support the purchase.

India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals.

The European Union’s Taxonomy of Sustainable Economic Activities, the latest draft of which was released on Monday, has been hailed by promoters as the opening of a new chapter in responsible investing. But the document is complex and much will depend on how market participants use it.

In this round-up, the number of confirmed cases of the novel coronavirus (Covid-19) infections has surpassed the 100,000 mark, both China’s import and export volumes declined year-on-year for January and February, and property developers suffered huge drops in contracted sales last month.

TVS Supply Chain Solutions, a subsidiary of Indian industrial conglomerate TVS Group, has mandated three banks for a $185m loan that will be syndicated to a small set of banks.

The Indian government is looking to sell its entire majority stake in Bharat Petroleum Corp (BPCL) and has invited expressions of interest from strategic buyers.

Sumitomo Mitsui Banking Corp is planning to issue a Rmb1bn ($144m) three year Panda bond soon, a banker on the deal told GlobalCapital China.

Investors already reeling from the growing impact of Covid-19 on markets had another thing to contend with on Monday — a collapse in the price of crude oil. Asian bonds and stock markets tanked in the aftermath, with debt bankers saying there was no reprieve in sight.

The Yangon Stock Exchange will be open for trading by international investors from March 20, according to an announcement by Myanmar’s securities regulator.

China’s Immunotech Biopharm has applied for listing approval in Hong Kong, aiming to raise more than $100m from its IPO, according to a source familiar with the matter.

Sustainable finance specialists are waiting eagerly to see the precise details of the European Union's Taxonomy of Sustainable Economic Activities, the next draft of which will be revealed on Monday.