Asia Pacific

In this round-up, Shanghai tech board has started accepting IPO applications, new issuance of local government bonds hits record, fiscal revenue growth slowed thanks to tax cuts

Chinese menswear company Mulsanne Group Holding is planning to list in Hong Kong, having filed a draft prospectus with the city’s stock exchange.

Bank Rakyat Indonesia has closed its $700m offshore syndicated loan, with 15 participants joining during syndication.

The issuance of two currency-linked notes on the private market should help stimulate local currency markets in Myanmar and Ukraine according to one syndicate banker.

Kazakhstan’s privatisation programme is set to continue, despite the decision of its president Nursultan Nazarbayev to step down from that position on Tuesday, according to ECM bankers and investors.

Deutsche Bank has added two senior bankers to its Americas debt syndicate desk in New York as it looks to build on a strong start to the year in investment grade DCM.

Demand for Ireland-based aircraft leasing company Avolon's unsecured loan took off, allowing it to sign the deal at $500m this week, as the company attempts to gain an investment grade rating.

Bank of Georgia is in the market with its first ever additional tier one bond on Thursday, offering a generous yield but keeping the size down.

CLSA took a hit this week after its long-serving chief executive officer, Jonathan Slone, and the bank’s chief operating officer both resigned, barely two weeks after chairman Tang Zhenyi also quit. The firm is caught in a struggle with its Chinese state-backed owner, Citic Securities, with the pair’s different approaches to investment banking a major sticking point. Jonathan Breen reports.

Chinese property company KWG Group Holdings closed a $350m bond tap this week, coming to the market just a week before it was due to report earnings. That led to a sharp disagreement between bankers over the practice of launching deals during a blackout period. Morgan Davis reports.

China’s Minsheng Financial Leasing Co reintroduced bonds backed by loans to the Asian market this week, but the revival of such a rare structure for the region comes with challenges and concerns.

With many Asian companies readying their earnings in their respective blackout periods, a trickling of Chinese property bonds have kept debt investors busy.