Asia Pacific

Indonesia's OCBC NISP raised Rph2.75tr ($191m) from International Finance Corp through privately-placed sustainable bond transactions, split between a gender bond and a green bond.

Citi has hired industry veteran Loretta Ko as head of Hong Kong financial institutions, within the corporate banking division, according to an internal memo seen by GlobalCapital Asia.

Asia’s IPO markets have been hit hard by the coronavirus epidemic, as travel bans and self-quarantine orders have delayed roadshows and brought deal flow to a near standstill. For the listing markets to survive, issuers, ECM bankers and investors need to adapt rapidly — and put some faith in technology.

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.