Asia Pacific

Besides the rare offering of a Chinese issuer on Wednesday, when Jin Jiang International issued a €500m bond, euro corporate bond investors had to make do with two other deals, from Telenor and Mondelez.

Jin Jiang International Holdings issued its second euro bond on Wednesday, and its first without the support of a standby letter of credit. The Chinese conglomerate has euro assets to fund, following its acquisition of Radisson Hotels last year.

China Orient Asset Management Co (Orient AMC) priced an almost 10 times covered dual-tranche bond with strong backing from its lead manager consortium. The borrower went out without a keepwell deed from the onshore entity, but investors were undeterred by the structure.

Upstream oil and gas company ENN Ecological Holdings Co priced a $250m tap of a bond it sold earlier this year. The deal came after news of a share transfer that could give it effective control over sister company ENN Energy Holdings.

Herald International Financial Leasing, a subsidiary of BMW, bagged its second Rmb2.5bn ($353m) auto lease asset-backed note on Tuesday, pricing the dual-tranche deal at the tighter end of the price guidance range.

A smaller deal size, a high-profile cornerstone investor and plenty of early engagement with investors have put Budweiser Brewing Company Apac’s second attempt at a Hong Kong IPO on solid ground.

Azure Power Global pulled off an unusually large price tightening on its $350m green bond, which was buoyed by strong investor demand for a rare issuance from the Indian renewable energy sector.

Bajaj Finance’s share price surged on Wednesday after the Indian non-bank lender’s board of directors approved a potential billion-dollar fundraising.

Thailand and Cambodia are looking to encourage cross-border equity offerings and issuance of depositary receipts, after signing a memorandum of understanding (MOU) on Tuesday.

Lai Sun Development, a Hong Kong-listed property developer and investor, has sealed a hugely popular HK$3.6bn ($460m) four year green loan to finance the Hong Kong Ocean Park Marriott Hotel.

Mapletree Industrial Trust raised S$400m ($290.6m) on Tuesday, becoming the latest in a growing line of trusts to tap Singapore’s equity capital market.

China’s Wolong Electric Group has closed its €150m debut offshore borrowing with 14 lenders.