Asia Pacific

Denmark’s debt officials have a highly original plan to issue green bonds in which the green element can be stripped off and traded separately. It’s going to put many a green nose out of joint. That’s no bad thing: the market needs to re-examine its claims to efficacy and virtue.

Crédit Agricole bagged a total loss-absorbing capacity eligible senior preferred Panda bond in China last week — the first of its kind onshore. But the confusion it created shines a light on a market that is still in dire need of education around these new structures. With Chinese banks set to come under pressure soon to issue their own TLAC-eligible bonds onshore, rapid change is needed before time runs out.

Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material have returned to the offshore market for a new $300m loan.

Chinese lender Bank of Guizhou filed an updated IPO prospectus with the Hong Kong bourse on Monday, having first tested appetite for its listing in September.

Indian non-banking financial companies will be forced to wean off from their reliance on the rupee bond market and tap international investors next year amid a liquidity crunch onshore. But with buyers becoming increasingly selective on the kinds of NBFCs they will buy, borrowers should be prepared to pay up.

Chinese property manager Powerlong Commercial Management Holdings is meeting with prospective investors this week to gauge interest in its Hong Kong IPO, according to a source familiar with the matter.

Three Chinese banks have provided Jiangxi Copper Company with a $700m loan to support its acquisition of Canada’s First Quantum Minerals (FQM).

Singapore property developer Hoi Hup Realty has received its debut green loan of S$332.5m ($244.5m), which it will use to partially finance its acquisition of a hotel in the southeast Asian country.

Fear of an onshore default by a Chinese local government financing vehicle (LGFV) led to a sell-off in the dollar bond market on Monday. But after news emerged of a government rescue of the company, both the primary and secondary markets quickly recovered.

Beijing Capital Land has set the ball rolling for a three tranche rights issue, eyeing around $361.5m from a deal combining its offshore and domestic shares.

Health and Happiness International Holdings, a China-based supplier of paediatric nutritional and baby care products, has increased the size of its loan to $675m on strong demand.

Venus Medtech (Hangzhou), a Chinese biotechnology company, has wrapped up its Hong Kong IPO at the top end of guidance, raking in HK$2.6bn ($311.1m).