Asia Pacific

Alibaba Group Holdings got the greenlight from Hong Kong's stock exchange for a listing that could be worth as much as $15bn. The deal looks set to receive strong anchor demand from Chinese investors.

Foreign banks hoping to break into China’s capital markets will have an open invitation at the end of next year, when final restrictions on their ownership of securities houses are removed. They will have some small successes with secondary trading but muscling in on primary capital markets will prove expensive ─ and risky.

New York Stock Exchange-listed gaming company Sea is bookbuilding for a convertible bond worth at least $1bn.

Beijing Hyundai Auto Finance and SAIC-GMAC Automotive Finance priced their Chinese auto loan ABS transactions on Tuesday.

South Korean heavy industry company Doosan Infracore Co sold a $300m three year bond on Tuesday, helped along by a guarantee from Korea Development Bank.

India’s Adani Ports and Special Economic Zone (APSEZ) and French oil and gas company Total are jointly raising a $600m loan for a gas project in the south Asian country. Eight banks have already formed the senior lending group, with the leads now seeking commitments in general.

Xiaofei Guo has joined Natixis to support the bank’s green and sustainable deal origination and solutions sales in Asia Pacific.

Two Indonesian borrowers, Bank Negara Indonesia and CSM Corporatama, have launched their loans into general syndication, according to several bankers.

A new drive is being launched by investors in London today to persuade companies to root out modern slavery in their supply chains. The quest will be hard in two ways: firms will risk bad publicity if they find slavery; and investors are unlikely to make money out of the work.

Singapore’s Temasek Financial, part of the government investment firm Temasek Holdings, is headed to the euro bond market, as low spreads continue to draw international borrowers.

Pharmaron Beijing Co, a pharmaceutical research and development service platform, has launched its Hong Kong SAR flotation, aiming to raise up to HK$4.6bn ($587.8m), said a source familiar with the matter.

China Minmetal’s wholly-owned subsidiary, Onfem Finance, has returned to the market for a HK$4bn ($511m) refinancing loan at tighter levels than its last syndication.