Asia Pacific

Citi shakes up South Asia origination team — DBS hires for loans — StanChart, IFC tie-up for trade finance

Warehouse construction firm and lessor ESR Cayman relaunched a bigger Hong Kong IPO this week, four months after pulling its first listing attempt because of volatility. But a revamped syndicate team and positive momentum in the local IPO market have given the new deal some impetus, writes Jonathan Breen.

Vietnamese companies are increasingly turning to the offshore loan market, providing bankers with relief amid a wider slowdown in Asia. Pan Yue reports.

CLP Power Hong Kong came to the dollar debt market after a four-year hiatus, pricing a $500m subordinated perpetual deal that was sought after in the primary and secondary markets ahead of an old bond’s first call date.

Chinese state-owned commodity chemicals producer Shanghai Huayi (Group) Co has sold an almost 10 times covered five year bond, while Yuzhou Properties Co raised $500m to fund a tender offer. Two local government financing vehicles also made their offshore debuts.

China’s FangDD Network Group has kicked off a roadshow for the listing of American Depository Shares (ADS) on the Nasdaq.

A senior loan syndications banker in HSBC’s Hong Kong team has left the bank.

Investors have taken to Chinese education platform Youdao, covering its $101m IPO multiple times over days before the end of bookbuilding, according to a source close to the deal.

Power Construction Corp of China (PowerChina) took advantage of the growing popularity of perpetual bonds to raise $300m on Tuesday.

Asian issuers tend to treat the 144A market as little more than a sideshow, rarely putting in the extra work to bring their deals to US investors. That needs to change.

Investors put in nearly S$3.5bn ($2.6bn) of orders for Mapletree Logistics Trust’s S$250m placement, helping the Singapore-listed company price its transaction near the top of guidance.

Hong Kong's Li & Fung added $100m to its 4.375% 2024 bond on Tuesday, boosting the total size of the deal to $500m.