Asia Pacific

It’s tough being a banker these days, and not just because the mouth-watering pay cheques and bonuses that came with the job have been gradually drying up.

Sri Rejeki Isman (Sritex) sold an opportunistic $225m bond on Wednesday, becoming the first high yield Indonesian issuer in five months. The company offered investors a juicy premium, which was necessary to appease buyers burnt by turmoil around fellow textile company Duniatex.

Moody’s is considering downgrading its Ba3 rating on the Government of Vietnam, in light of an alleged delay in payments on an obligation.

Fangdd Network Group, an online platform for real estate agents, is planning an IPO on the Nasdaq, having filed draft documents with the US securities regulator this week.

State-owned hydropower company China Three Gorges Corp made a rare visit to the dollar bond market, extending its maturity profile to 30 years.

Health and Happiness International Holdings and Shui On Land have both made swift returns to the loan market for tightly priced deals.

Bank of China broke new ground for Asia this week with the region’s first floating rate bond linked to the secured overnight financing rate (Sofr). But a host of challenges around payment calculations and liquidity mean other issuers will be slower to embrace this new benchmark. Addison Gong reports.

Investors flocked to Thai Oil Public Co's 30 year bond this week, seizing the opportunity to get yield from a long-dated note.

Chinese property company Ronshine China Holdings brought its 2022 notes to the market again on Wednesday, tapping the 8.75% bonds for a second time and adding $265m to its coffers.

Japanese Sumitomo Mitsui Financial Group (SMFG), the holding company for SMBC, returned to Australian dollars on Wednesday after two years away from the currency.

India's Tata Capital Financial Services has made a quick loan comeback, seeking a $135m-equivalent dual-currency deal.

Industrial and Commercial Bank of China (ICBC) has appointed a new head of global loan syndication, a veteran loans banker from Banca IMI.