Asia Pacific

Energy generator NTPC became the latest of a recent slew of Indian issuers to fund in the dollar bond market, with more deals underway.

After six months running the Uzbekistan’s newly created debt management office, ex-HSBC DCM banker Odilbek Isakov has become the country's deputy finance minister.

Indonesia Eximbank is sending out a covenant waiver request for a $1.15bn loan it sealed last year, as the policy bank's non-performing loan (NPL) ratio rose higher than the covenant allows.

China seems ready to cut coal from what is acceptable to fund under its green bond standards, caving to the demands of sustainable investing experts. This about-face is a big and positive move for global green financing efforts, but raises questions about global green standards and how the market frames discussions about what is ‘green’.

Indian Railway Finance Corp (IRFC) pushed into the dollar market on Monday to close a bond trade ahead of the end of the financial year. The issuer managed to grab $500m from the five year sale, despite a weaker market.

British life insurer and asset manager Prudential Corp Holdings is offloading a chunk of shares in its Indian joint venture ICICI Prudential Life Insurance Co and is looking to bag at least Rp11.2bn ($162.6m).

Last week’s tap of a KWG Group Holdings dollar bond triggered a debate between bankers about what makes for good market practice. The issuer may be an established and reputable one, but the tap was priced with the borrower still in an earnings blackout. If this sort of timing were to take hold, the Asian issuers as a whole will struggle to build a globally diversified investor base.

SNK Corp is set to launch an IPO using depository receipts (DRs) on the Korea Exchange next month. It is eyeing up to W169.7bn ($149.7m) in proceeds, according to a term sheet seen by GlobalCapital Asia.

China Railway Signal and Communication Corporation (CRSC), a Hong Kong-listed red-chip company, is seeking a Rmb10.5bn ($1.56bn) IPO on the new Shanghai Science and Technology Innovation board.

CMGE Technology Group and Haitong UniTrust International Leasing are keeping their IPO plans alive, having resubmitted applications to the Hong Kong's stock exchange.

Nasdaq-listed video streaming platform iQiyi has returned for a second time to the equity-linked market, having launched a one-day bookbuild on Tuesday for a convertible bond that could reach $1.05bn.

Shanghai Dongzheng Automotive Finance Co has relaunched its Hong Kong IPO with a fixed offer price after putting the deal on hold last week to trim the size.