Asia Pacific

The Republic of Indonesia made an opportunistic outing this week, tapping both the dollar and the euro bond markets for about $3bn. The sovereign started the year with a different approach to its annual funding, in a bid to take advantage of strong liquidity in both the currencies, writes Morgan Davis.

Luckin Coffee, China’s answer to Starbucks, has launched a combined follow-on offering and convertible bond issue to raise up to $821m.

German automaker Daimler began its 2020 renminbi debt market activity on Tuesday with a Rmb3bn ($432m) Panda bond sold through a new issuance vehicle, Netherlands-based subsidiary Daimler International Finance.

The noise about how capitalism is changing to a system in which social purpose is restored to the centre of companies' and investors' aims is now deafening. But look below the surface and the actual governance record of many companies and investors is dreadful. Most shareholders are too supine even to defend their own rights.

Short sellers' detractors say they are detrimental to the responsible stewardship of companies. This is unfair; they can play a useful role in highlighting deceptive practices in a world of greenwashing.

A number of Chinese real estate companies kicked off their refinancing for 2020 on Monday, with higher rated issuers tapping longer-dated bonds and the weaker names actively engaging in liability management.

Indonesian automobile company CSM Corporatama, also known as Indorent, has wrapped up its syndicated loan at a bigger size of $175m.

A group of shareholders in Xinyi Solar Holdings have bagged HK$1.79bn ($230.7m) after selling a block of shares in the company, according to a source familiar with the matter.

The Shanghai Stock Exchange’s Star board is set to welcome two new companies, as Waison Holdings and Shanghai Electric Group plan to list subsidiaries on China's Nasdaq-style market.

The success of Indian gold financing firm Muthoot Finance’s debut dollar bond sale in 2019 spurred gold loan provider Manappuram Finance to seek funds from the international debt market on Monday.

The Export-Import Bank of India clinched $1bn from a 10 year bond on Monday, riding on investor enthusiasm for deals from the country.

Chinese artificial intelligence company Megvii Technology is moving forward with its plan to list in Hong Kong, after getting the go-ahead from the city’s stock exchange, according to two sources close to the transaction.