Asia Pacific

JP Morgan has appointed two new co-heads of investment banking coverage for Australia and New Zealand, according to an internal memo seen by GlobalCapital Asia.

Investors rushed into Huaneng Power International’s dual-tranche $600m bond on Wednesday, attracted to the Chinese company’s investment grade rating.

Oil India has ended a four year hiatus from the loan market, returning for a $225m borrowing.

Indian telecommunications company Bharti Airtel returned to the debt market on Wednesday to tap its $750m 5.65% perpetual notes, after successful deals in the equity market this year gave its bonds a boost.

Investors shrugged off concerns about Chinese local government financing vehicles to invest in Yiwu State-owned Capital Operation Co’s $400m bond sale this week. Despite the outbreak of Covid-19 (the coronavirus), there is still interest in mainland government-linked credits and the premium they offer. Morgan Davis reports.

Singapore-listed Prime US Real Estate Investment Trust (Reit) raised $120m after a rush of demand led it to increase the size of its placement.

Trans Retail Indonesia, also known as Carrefour Indonesia, has returned to the loan market for a $740m-equivalent dual-currency deal. It features an unusual fee structure that has left many bankers scratching their heads, writes Pan Yue.

Asian IPOs are suffering as the spread of Covid-19 (the coronavirus) accelerates, with the flow of Chinese listings in Hong Kong having slowed to a standstill. Bankers are looking into any solutions, but the curb of face-to-face contact is hanging over the world’s busiest stock exchange. Jonathan Breen reports.

Agricultural Development Bank of China has sold Rmb14.5bn ($2.1bn) of bonds to combat the Covid-19 (coronavirus) outbreak, including a deal in the dim sum bond market this week. Rebecca Feng reports.

The coronavirus outbreak is already having an impact on my jet-setting retirement lifestyle. I suppose I shouldn’t complain ─ but I will.

Chinese regulators will have to strike a balance between supporting the use of the domestic bond market to help combat the deadly outbreak of the coronavirus, now officially known as Covid-19, and preventing the misuse of it.

New York-headquartered MSCI has included a Star board listed company in its China-related indices, alongside well-recognised names such as Luckin Coffee and Zai Lab.