Asia Pacific

China Lesso Group has increased a four year borrowing to around $1.1bn, after attracting 16 lenders during syndication.

DBS has hired Deutsche Bank’s former Indonesia country head to run its institutional banking group in the southeast Asian country.

Powerlong Real Estate Holdings pulled off a top-up placement on Monday night, raising HK$791.6m ($100.9m) after pricing the deal toward the bottom of guidance.

High yield issuer Kunming Municipal Urban Construction Investment & Development Co priced its inaugural dollar bond on Monday, raising $300m at a yield that was comparable to some higher rated local government financing vehicles (LGFVs).

Hong Kong’s stock exchange has awarded China Feihe, a baby milk formula producer, its final stamp of approval to list.

S&P Global Ratings has downgraded Jain Irrigation Systems to selective default, following a similar move by two domestic rating agencies last week.

Shanghai Sinooil Energy Holding Hong Kong, a subsidiary of state-owned China Energy Reserve and Chemical Group, has defaulted on a $400m offshore loan.

Sinopharm raised Rmb2.8bn ($396m) from a red Panda bond on Saturday. The state-owned traditional Chinese medicine company switched to a shorter tenor to achieve tight pricing.

China Grand Automotive Services Group Co has launched an offer to exchange two dollar bonds in part, leading to a sell-off in its existing curve in the days following the announcement.

In this round-up, China and the United States emerged out of a two-day trade talk with a “phase one” deal, China’s securities regulator set dates for further opening up of onshore financial markets and the Monetary Authority of Macau plans to launch a Nasdaq-like stock exchange for the offshore renminbi market.

Chinese homebuilder Jiayuan International Group dipped into the market again on Friday, selling a $200m bond.

Sumitomo Mitsui Banking Corp has hired Aaron Chow as a general manager in its investment banking department.