Asia Pacific

Nasdaq-listed Chinese company Pinduoduo has printed its debut convertible bond at the tight end of price guidance, pocketing $875m.

China Aircraft Leasing Group Holdings (CALC) is seeking its second syndicated loan of the year and has approached banks to co-ordinate the deal.

Cambodia’s Prasac Microfinance Institution has closed its syndicated loan at a larger size of $180m.

Daimler International Finance, a wholly-owned subsidiary of German carmaker Daimler, brought a Rmb500m ($70m) dim sum bond on Tuesday, finding a narrow window of opportunity for a deal ahead of two big liquidity events.

Investors ploughed into Lendlease Global Real Estate Investment Trust’s S$740.3m ($538.1m) IPO in Singapore, attracted to the potential yields on offer amid a low interest rate environment.

State-owned Metallurgical Corporation of China (MCC) is seeking a debut $300m offshore loan for a project in Papua New Guinea.

A veteran capital markets banker from Standard Chartered has joined CLSA in Hong Kong as head of debt syndicate.

Investors and banks are pledging right, left and centre to fight climate change. Good for them — but the economy must get to carbon neutrality as soon as possible. This cannot be done until banks and funds refuse to fund more fossil fuels.

Kommuninvest kicked off the dollar market this week with a $1.25bn blowout, despite it being at record tight levels over Treasuries, according to a banker on the deal. Following on from Kommuninvest’s deal, a wide range of SSAs look to print across the curve, including rare issuer IDB Invest with its five year dollar bond debut.

Natixis has become the first bank to introduce a green weighting factor to its internal capital model, so that the way it prices loans is skewed to favour environmentally sound assets and disadvantage polluting ones. The ground-breaking move brings to fruition an 18 month project and anticipates what some believe may one day be demanded by regulators.

Chinese sportswear retailer Topsports International Holdings has opened books for its up to HK$9.4bn ($1.2bn) Hong Kong listing.

Strong investor appetite for Thai bank capital deals helped Kasikornbank beat expectations with its $800m Basel III-compliant tier two bond.