Asia Pacific

China’s Shenwan Hongyuan Group Co launched its Hong Kong IPO on Thursday, seeking upwards of $1.3bn from the sale.

India’s JSW Steel raised $500m in an opportunistic transaction on Wednesday, marking the company’s first dollar bond in two years.

The debauchery of the Hong Kong Sevens rugby tournament is legendary. Every year friends visit for a long weekend of carousing and occasionally someone watches some rugby.

Singapore’s DBS Group Holdings on Tuesday sold a three year senior unsecured bond, giving investors a scarce opportunity to buy a fixed rate deal at that tenor and format from one of the highest rated financial institutions in the region.

Chinese internet data centre provider 21Vianet Group raised a $300m note on Tuesday after bondholders agreed to tender over half of an old $300m bond that will become puttable in a few months.

Investor orders surged for Polycab India’s $194m IPO this week, allowing the transaction to close with an order book nearly 52 times subscribed.

Genius Auto Finance, a joint venture between Geely Automobile Holdings and BNP Paribas Personal Finance, has raised Rmb3bn ($446m) from a three-tranche auto ABS. It was the tightest such deal this year, after receiving plenty of demand from foreign banks.

CCB Financial Leasing, a subsidiary of China Construction Bank, has returned to the syndicated loans market after a four year absence.

Highly structured bonds backed by loans to airlines in which Abu Dhabi state airline Etihad holds a stake suffered another blow on Monday, as Jet Airways became the third obligation backing the bonds to default. Debt to Alitalia and Air Berlin, also affiliates of Etihad, already defaulted in 2017 and 2018, respectively.

Arrangers of Reliance Industries’ debut Schuldschein have sent investors a statement saying that demand “considerably exceeds the initial volume” target of €150m. The success of the transaction came as a surprise to some of the arrangers’ competitors, but is considered a good sign for the market.

China has in the past used panda bears for political gestures, loaning the rare creatures to countries with which it wants to forge ties. The bond market named after them looks similarly endangered, while deals priced there are also nothing more than international relations votives.

China’s Yuexiu Property Co raised HK$1.1bn ($140.2m) from an exchangeable bond sale on April 8, attracting an order book that was more than three times oversubscribed.