Asia Pacific

Topsports International Holdings has kicked off pre-marketing for its Hong Kong SAR listing, which is expected to raise around $1bn, according to sources close to the deal.

Dollar bond investors have shrugged off Fitch’s downgrade to the foreign currency rating of Hong Kong SAR, with local issuers also gearing up for new deals.

South Korean energy company SK E&S Co has bagged HK$5.1bn ($650.7m) after selling a block of shares in China Gas Holdings, a source close to the deal told GlobalCapital Asia.

Indorama Ventures Public Co sold its first dollar bond on Thursday. While unrated, the company’s rarity value appealed with investors.

Power Finance Corp gathered a peak book of $4bn for its $750m dual-tranche bond issuance, allowing it to sell the notes at tighter-than-expected levels.

Indian renewables company ReNew Power took home $300m from a bond that appealed to a niche, but captive, investor base.

In this round-up, JPMorgan has decided to include Chinese government bonds into its government bond index for emerging markets, Fitch downgrades Hong Kong by one notch to AA and Caixin manufacturing Purchasing Managers’ Index (PMI) declines in August.

In this round-up, the US and China agree to meet in October in Washington, Hong Kong's chief executive formally withdraws the extradition bill and the Chinese state council is set to release local government bond quotas for 2020 early.

Six Greater China borrowers, including Industrial and Commercial Bank of China (Macau) and an unrated property developer, have wooed bond investors to their new dollar deals.

India's Bajaj Finance has hired banks to run a potential qualified institutional placement (QIP) of around $1bn, according to a source familiar with the matter.

India's central bank should take measures to boost the country's secondary loan market, according to a task force.

China’s Youyuan International Holdings, a wrapping tissue paper maker, has defaulted on a total of HK$2.6bn ($332m) of debt, including a $135m loan sealed in April.