Asia Pacific

Mexico’s state-owned electric company Comisión Federal de Electricidad (CFE) turned to Taiwan’s bond market this week to sell a dollar bond — its latest foray into the Formosa bond market.

Apologies millennials, but not everything needs to come with an added perk. Whatever happened to banking being boring?

Chinese property developer Jingrui Holdings made its first dollar outing of 2020 on Wednesday, raising $180m from the bond.

Sinic Holdings (Group) Co and JY Grandmark Holdings made their debuts in the dollar bond market on Wednesday. Both issuers opted to use a 364-day tenor to get the deals done.

The World Bank and Assicurazioni Generali are each giving the insurance-linked securities (ILS) they issue a sustainability label, as the market attempts to burnish its credentials for investors concerned with environmental, social and governance (ESG) criteria. Both issuers are imitating conventional green bond programmes by focusing on direct use of proceeds, but there are also debates around issues such as freed-up insurance capital and what governments do with funds released from catastrophe bonds.

Has Zhongrong Xinda Group Co, a Chinese bond issuer, missed a coupon payment? That was the impression given by the Shanghai Clearing House this week. But on the same day, the issuer said it had, in fact, repaid the money — privately.

China Hongqiao Group, an aluminium producer, has returned to the loan market for a $200m borrowing,

China’s Luxshare Precision is in the market seeking a $500m revolving credit facility, returning to bank lenders after an absence of three years.

Robi Axiata has submitted an application to the Bangladesh securities regulator for a Taka5.2bn ($62m) IPO, set to be the largest in nearly a decade.

Genius Auto Finance, a joint venture between Geely Automobile and BNP Paribas Personal Finance, will follow BMW and SAIC-GMAC and sell a Rmb4bn ($574.2m) three tranche deal on March 10.

LVGEM (China) Real Estate Investment Co raised $450m as part of a new money and exchange offer on Tuesday. The borrower opted for an exchange offer on its old 2020 bond as a way of reducing the impact of recent volatility.

India’s market regulator has given Equitas Small Finance Bank (ESF) the go-ahead for its IPO, which is expected to raise about Rp10bn ($136.3m).