Asia Pacific

Investors have been showing a clear preference for subordinated bank bonds in the primary market, with the valuations for more senior asset classes having been squeezed into extraordinarily tight levels in 2020.

Midea Group Co became the second Chinese company to be removed from the MSCI China All Shares Indexes and the MSCI Global Standard Indexes after its foreign ownership reached 28%.

Ant Financial’s planned Hong Kong listing is just one of many jumbo deals that could land on the bourse this year. But few issuers will have such a clear path to success. The Alibaba halo should not be underestimated.

The Republic of the Philippines hit the market with a pair of euro benchmark bonds on Tuesday, making a rapid comeback to the currency.

Korea South-East Power Co (Kosep) and ReNew Power Private gave a further boost to the growing green bond market on Tuesday.

Shangri-La Asia raised S$250m ($185.3) from the Singapore dollar bond market on Tuesday, after seeing an opportunity for unrated issuers in the city.

Three companies from the Greater China region sealed bonds on Tuesday, likely to be the last batch of issuers to tap the debt market before the Chinese New Year break begins. No Asian borrowers launched dollar deals on Wednesday.

Chinese biopharmaceutical company Zai Lab has kicked off a follow-on offering of its American Depository Shares. It is aiming to raise around $300m.

Macquarie Group has appointed Charles Yonts as head of Asian ESG research, a newly created position.

BFI Finance Indonesia, which provides funding for automobiles, heavy equipment and properties, has returned to the loan market for a $75m borrowing.

Natixis Investment Managers has hired a head of China in its Beijing office from US rival JP Morgan.

Resolute Mining, the Australian gold miner, has raised A$196m (£103m) via a transcontinental capital increase to repay a bridge loan used to fund its acquisition of Toro Gold in August last year.