Asia Pacific

Hindustan Petroleum Corp (HPCL) has returned to the offshore loan market, mandating three banks for a $300m borrowing.

Hengan International, a Hong Kong-listed Chinese producer of sanitary napkins and baby diapers, sold the first coronavirus-linked Panda bond on Friday. The red-chip issuer will spend 13% of the proceeds for the cause.

The shock of the Covid-19 coronavirus outbreak has forced some rapid thinking among capital markets participants. Almost the first impact has been on travel.

Workers of the world’s capital markets united this week in efforts to keep the funding flowing as the threat of the Covid-19 coronavirus advances. Roadshows, mandate pitches and even quotidian office life faced emergency changes as embattled financiers braced themselves and their businesses for virus disruption.

Market participants should be braced for political volatility as the world comes close to experiencing a pandemic.

HSBC and Standard Chartered are expecting lower profits and higher loan impairments this year due to the Covid-19 coronavirus outbreak and an economic downturn in Hong Kong.

JPM picks Apac CEO — Natixis gets CIB coverage lead — StanChart’s Hsu exits — UBS, CS hire for research — Companies plan restructurings amid Covid-19 — Fidelity makes senior appointment

Chinese brokerage Shenwan Hongyuan Securities is out for a one-year bridge loan, seeking HK$3bn ($385m) for its international loan market debut.

“What's in a name?” wrote Shakespeare. “That which we call a rose by any other name would smell as sweet.” A banker tried applying a similar philosophy last week. It wasn’t quite so poetic.

Perpetual tenors were in favour this week as four borrowers from Greater China sealed perps in a yield-hungry environment.

SBI Cards and Payments Services, a State Bank of India subsidiary, set the final price range for its IPO, putting proceeds of up to Rp103.5bn ($1.44bn) in reach for when it launches the deal next week.

Artificial intelligence company Megvii Technology’s IPO prospectus expired on Tuesday. But despite delaying the deal, the firm intends to resubmit a listing application, according to a source familiar with the matter.