Asia Pacific

Dongfeng Nissan sold its 13th Chinese auto loan ABS, a Rmb4.3bn ($621m) three-tranche note, on June 13. Both senior tranches were priced 25bp higher than the issuer's previous deal.

Ping An Insurance (Group) Co of China raised $400m from a bond sold through its real estate business on Tuesday. While the deal carried the weight of the Ping An name, the issuer’s aggressive pricing strategy scared some investors off.

Warburg Pincus-backed logistics manager ESR Cayman opened books on Wednesday for what will be the biggest float in Hong Kong so far this year.

Mizuho Financial Corp marketed a senior bond on Tuesday, breaking the silence in the financial institutions bond market this week. The issuer attracted €1.7bn of orders, showcasing its established name in a quiet market.

Huatai Securities, the Chinese brokerage, has revived its plan to sell $500m of global depositary receipts (GDRs) on the London Stock Exchange, having postponed the deal last year due to regulatory uncertainties.

Georgia’s largest commercial bank TBC Bank is on the road to promote a dollar benchmark. The deal coincides with the bank’s push into its neighbouring markets, Azerbaijan and Uzbekistan. The bank is spearheading the move with tech platforms.

A combination of the takeover of Baoshang Bank and the escalating trade war muffled the Chinese bond market and increased smaller banks and corporations’ funding costs. Meanwhile, the People’s Bank of China (PBoC) has injected record highs of liquidity into the bank bond market.

The surprise takeover of troubled Baoshang Bank, together with the resignation of Bank of Jinzhou’s auditor, is a wake-up call for a market that had enjoyed a rosy outlook.

Rabobank’s Adam Wotton is set to move to HSBC’s leveraged and acquisition finance team as a director.

Malaysian home improvement retailer Mr DIY Group could file a prospectus with Bursa Malaysia for its $500m IPO as early as the end of June, according to a source close to the potential deal.

Indian conglomerate Larsen and Toubro is selling-down a batch of shares in subsidiary L&T Technology Services and is looking to raise at least Rp6.65bn ($96.2m).

Industrial and Commercial Bank of China (ICBC) hit two parts of the dollar curve on June 3, selling two tranches of floating rate notes worth $750m each.