Asia Pacific

Korea Development Bank raised $1.5bn from the bond market on Monday as investors showed strong support for the Aa2/AA/AA- rated issuer.

India’s Avenue Supermarts has raised Rp40.98bn ($575.2m) after sealing its qualified institutional placement above the floor price.

Zhongliang Holdings Group Co has raised $250m from a 364-day deal, on the back of revived trading in Chinese high yield property bonds.

Beijing Roborock Technology, a manufacturer of robotic vacuum cleaners, has sealed its Star board IPO at a hefty 58.76 times earnings ratio — the highest IPO price on record, not just on Star but also in the entire Chinese A-share market.

Hong Kong-based Value Partners Group has been added to a growing list of asset managers of foreign private funds that are allowed to provide investment advisory services in mainland China since last year.

The value of the riskier tranche of the World Bank’s pandemic bond has been discounted — but not by very much — as the coronavirus outbreak infects more people outside of China and therefore comes closer to triggering a payout from the notes.

The World Bank is looking to New Zealand for a new five year. The deal will be its first bond in the Kauri market since January 2019.

ONGC Videsh (OVL), the international arm of Indian state-owned Oil and Natural Gas Corp, has mandated nine banks for a $1bn loan.

In this round-up, Beijing-headquartered Asian Infrastructure Investment Bank is ready to provide loans to help China combat the deadly outbreak of the novel coronavirus, the Ministry of Finance has rolled out more easing measures amid the epidemic, and Huishang Bank has finally confirmed it is taking over Baoshang Bank.

Dollar bonds sold by Chinese high yield property companies recovered from their trading lows at the end of January to become some of the highest performing notes in Asia last week. While that has created some positive momentum for the deals set to come to the market soon, analysts remain cautious.

The Inter-American Development Bank has sold its first Indonesian rupiah sustainable development bond, making it the seventh currency in which it has raised this kind of funding.

Bank of Singapore, the private banking arm of OCBC Bank, has created a new job of head of wealth planning for Greater China and North Asia, giving the position to an ex-HSBC banker.