Asia Pacific

The Asian Development Bank (ADB) hit screens on Monday morning with initial price thoughts for a new 10 year green Kangaroo bond. The trade follows a busy week for SSA Kangaroo issuance at the long end of the curve, driven by Japanese demand according to one banker.

The People’s Bank of China (PBoC) is reducing the amount of money that banks need to hold as reserves, a long-overdue move that analysts said is just one of many more easing measures to be implemented in the country.

In this round-up, the People’s Bank of China (PBoC) announced both broad-based and targeted reserve requirement ratio cuts, China’s exports dropped further and Hong Kong witnessed another weekend of protests despite the withdrawal of the extradition bill.

The Government of Sri Lanka has invited banks to pitch for the lead arranger role for a ¥60bn ($561m) Japanese yen-denominated international bond. The deadline for submissions is next Friday.

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.