Asia Pacific

One of the more fascinating transactions to reach the Schuldschein market in the past few months is from the European arm of Singapore-listed real estate investment trust (Reit) Cromwell. The transaction’s closing date was postponed by more than a month, as many away from the deal claimed the deal was struggling to find traction. But bankers close to the situation were quick to assure that it was still on track and investors just needed more time to analyse the credit.

There is a growing pipeline of subordinated bond issuance in the FIG market this week, as issuers think about their regulatory requirements and find no reason to wait in light of a recently favoruable backdrop.

Chinese president Xi Jinping triggered a jump in the prices of blockchain-related stocks this week after hailing blockchain as the centrepiece of the country’s technology innovation in a Politburo study session. Xi's comments came as the People’s Bank of China plans to roll out its central bank digital currency.

Rising power demand in Indonesia pushed state-owned Perusahaan Listrik Negara (PLN) to make a rapid return to the dollar bond market this week.

State Grid Corporation of China is in talks with banks for a loan to support its $2.23bn acquisition of Sempra Energy’s Chilean business.

Chinese biopharmaceutical firm I-Mab has set the ball rolling for a potential $100m Nasdaq IPO, having filed a prospectus with the US regulator on Tuesday.

Indonesian power company Perusahaan Listrik Negara has closed its $1bn five year loan, attracting eight participants during syndication.

SDIC Power Holdings has won final approval from the Chinese financial regulators to list in London. It will be the second company to float using the city’s Stock Connect scheme with Shanghai.

Chinese residential and commercial real estate developer Sinic Holdings has kicked off a roadshow for a HK$2.25bn ($287m) listing.

Three Chinese real estate developers came to the bond market on Tuesday, raising a combined $1.25bn.

Philippine company SMC Global Power Holdings Corp has priced its second senior perpetual bond of the year, raising $500m from a four times covered deal at a yield that met the issuer’s target.

Dongfeng Nissan Auto Finance, a joint venture between Japanese carmaker Nissan Motor and Chinese automaker Dongfeng Motor, will return to the Chinese auto loan ABS market on November 5 for its third deal of the year. The Rmb6.5bn ($920m) four-tranche note will be the issuer’s largest outing to date.