Asia Pacific

Zhenro Properties Group returned to the dollar bond market for the ninth time in 2019 on Wednesday. The real estate borrower raised $300m from what is likely to be its last deal of the year.

SinoMab BioScience, a biopharmaceutical firm, has started taking orders for its up to HK$1.7bn ($223m) Hong Kong IPO.

Credit Suisse’s head of loan syndication and distribution for Asia Pacific has left the bank, according to a source close to the situation.

German private equity firm Aurelius is preparing a high yield bond issue of up to €200m issue of senior unsecured five year floating rate notes in the Nordic market. Another investment group, Chinese Fosun, also tapped the markets with a €400m issue of unsecured senior notes.

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.