Asia Pacific

A recent flurry of leveraged and acquisition financing activity in Asia has caught the attention of loans bankers hungry for new assets. But as trade tensions and fears about a growth slowdown ramp up, the pressure on the market is high, writes Pan Yue.

The Reserve Bank of India has eased rules around international borrowings from the country’s companies in a bid to ease pressure on the domestic credit market.

LG Display tapped the convertible bond market for W813.6bn ($687.8m) this week, its first equity-linked outing since the global financial crisis. Although the deal came at a troubling time for the issuer, its popularity has set the stage for a strong second half for the market. Jonathan Breen reports.

Italy’s Cassa Depositi e Prestiti printed a long-awaited Rmb1bn ($145m) inaugural Panda bond on Wednesday, with the modest issuance size revealing the roadblocks still facing the nascent debt market, writes Rebecca Feng.

London-listed Resolute Mining has agreed to buy Senegal’s Toro Gold for $274m, with the acquisitive company planning to turn to its syndicated lenders to refinance the bridge debt linked to the purchase.

Nomura’s wholesale business in Europe, the Middle East and Africa underperformed other regions in the last quarter, with the results coming out after the bank announced it is to scale back trading operations there. But the wholesale division registered a profit overall — a rare occurrence of late.

South Korean digital display manufacturer LG Display has bagged W813.6bn ($687.8m) from a convertible bond, according to a term sheet seen by GlobalCapital Asia.

China Aoyuan Group was back in the dollar market on Tuesday, adding another $250m to its 2023 notes.

China Construction Bank (CCB), the largest originator of residential mortgage backed securities in China, is returning to the market with a Rmb9.87bn ($1.43bn) four tranche deal on August 6. All three senior tranches are rated triple-A by S&P Global Ratings.

South Korea’s sustainable financing efforts were given a boost this week, after Lotte Property and Development Co sold a $300m bond.

Dexin China Holdings Co found limited interest for its debut dollar bond, despite paying a generous yield to get the deal done.

Frasers Logistics & Industrial Trust has raised S$258.1m ($188.4m) after sealing a new unit placement at the top of price guidance, according to a term sheet seen by GlobalCapital Asia.