Asia Pacific

The US finally labelled China a currency manipulator this week, a day after the renminbi weakened to below the psychological level of seven against the dollar. With China clearly indicating its willingness to open a new front in the trade war, the stage is set for an increase in rhetoric between the two countries.

Credit Suisse's head of Greater China debt capital markets has quit the bank, according to sources.

The Asian Development Bank (ADB) and Japan’s Government Pension Investment Fund (GPIF) have launched an initiative to promote green bonds, with the largest pension fund in the world requiring all of its asset managers to consider sustainability aspects in decision making.

Korea’s Financial Conduct Authority has supported the covered bond market this year with a series of new measures that aim to stimulate demand and supply. Its actions should promote local currency issuance, building on this year’s strong start.

Chinese biotechnology company Venus Medtech (Huangzhou) is seeking approval to list in Hong Kong, having filed a draft prospectus with the city’s bourse on Monday.

Asia Pacific Resources International Holdings (April), a subsidiary of Royal Golden Eagle, has made a quick return to the loan market for a self-arranged borrowing of up to $1bn.

Asia’s primary bond market was quiet for the second day in a row on Tuesday, as investors continued to remain wary about rising tensions between the US and China.

Emirates NBD, a Dubai-based bank, has closed its dual-tranche loan at $500m with 15 lenders, increasing it from an initial size of $400m.

Hong Kong-based AMTD International's stock surged by over 20% on its debut on the New York Stock Exchange, after the IPO was priced above the mid-point of guidance.

Indonesia’s state-owned oil and natural gas company Pertamina has raised a $1.85bn project loan from a group of 12 banks.

Swiss firm responsAbility Investments has closed a $175m microfinance CLO via JP Morgan, revitalising an industry which last saw issuance before the financial crisis.

Australian potash company Danakali will raise a $200m credit facility from lenders in Africa. The syndicated facility will go towards funding the planned Colluli potash project in Eritrea.