Asia Pacific

International bond volumes from India so far this year have almost doubled from the same period in 2019, showing the strength of the country’s issuers as they continue to emerge from a turbulent period. Debt bankers are optimistic that India is set for a strong 2020, writes Morgan Davis.

Alain Gallois will become Natixis’s global head of investment banking, replacing Mohamed Kallala. The latter is heading over to run global markets, with that role’s incumbent, Luc François, leaving the bank.

Chinese corporations bombarded investors with new bond options on Wednesday, allowing three issuers to raise $625m between then. Hong Kong-based asset manager ESR Cayman joined the fray in Singapore, grabbing S$225m ($161.55m).

Chongqing Rural Commercial Bank is set to become the first rural commercial bank in China to set up a wealth management subsidiary, joining 16 larger banks that have already entered the industry.

Sydney Airport has become the first borrower to issue a sustainability-linked US private placement.

The Chinese regulator’s decision to loosen rules around follow-on offerings in the domestic market has brought a resounding vote of approval from corporations. In just four days, 46 companies have set out plans to tap the equity capital market.

One of Peking University Founder Group Co’s creditors has applied to a Chinese court for a restructuring of the company, which defaulted on a Rmb2bn ($285m) domestic bond at the end of last year.

China’s Powerlong Real Estate Holdings is returning to the international loan market to refinance some of its debt, mandating one bank to lead the deal.

Citic, Yango Group Co and Kunming Industrial Development and Investment Co were the three Chinese issuers that tapped bond investors for new dollar deals on Tuesday.

Delhi International Airport (Dial) returned to the bond market with a tap of its 2029 notes on Tuesday, taking $150m from investors.

Barbeque-Nation Hospitality is planning an IPO of up to Rp12bn ($167.8m). It has revived its listing plans two years after first announcing the transaction.

China Forestry Group, a state-owned company that cultivates and manages forest reserves in the country, has closed its $145m loan with four banks.