Asia Pacific

Luckin Coffee has covered books after the first day on the road for its up to $510m Nasdaq IPO. And to add to the proceeds, the firm is concurrently selling ordinary shares to merchant firm Louis Dreyfus Co.

The Hong Kong government is readying its highly anticipated debut green bond, kicking off investor meetings this week.

Standard Life has raised $202.5m after completing a sale of 36m shares in Indian insurer HDFC Life Insurance.

The People’s Bank of China (PBoC) will lower the reserve requirement ratio for small and medium sized firms, it said on Monday morning. The central bank announced the move amid worsening trade negotiations with the US.

In this round-up, US president Donald Trump threatened more tariffs days before the eleventh round of trade talks, Bond Connect gained 134 new foreign institutional investors in April thanks to Chinese bond inclusion, and China’s State Council standardised government investment.

The Islamic Republic of Pakistan’s sovereign bonds were among the best performers in high yield Asian debt in dollars last week, as the country neared an agreement with the International Monetary Fund (IMF) for a bailout.

Eagle Hospitality Trust has cut the floor of the initial price guidance for its Singapore IPO, hiking up the yield for investors while delaying the end of its roadshow, according to a source close to the deal.

Tencent Holdings has seen an impressive rally in the secondary market for its recently issued dollar bonds, a reflection of strong investor appetite for investment grade supply amid underwhelming issuance volumes in 2019.

China’s real estate company Greenland Holdings has returned to the offshore loan market after a two year absence, offering a juicier price this time.

Malaysian poultry producer Leong Hup International has closed its books for a long-anticipated MR1.18bn ($285m) IPO, which was more than ten times subscribed.

HSBC’s global banking and markets division registered a small rise in income in its first quarter results announced on Friday. Transaction banking lines helped outweigh revenue declines in trading and the global banking business.

Indonesia’s Medco Energi Internasional wrapped up a $650m bond outing on Thursday, closing off an acquisition financing exercise linked to a bridge loan from earlier in the year.