Asia Pacific

South Korean supermarket chain Homeplus Stores has cancelled the potential W1.73tr ($1.5bn) IPO of its Homeplus Real Estate Investment Trust.

China National Travel Service Group Corp made a rare visit to the to the bond market, raising $500m from a deal that was priced inside fair value and continued to grind tighter in the secondary market on the first day of trading.

Chinese online education company Koolearn Technology Holdings has launched a HK$1.83bn ($232.6m) IPO, nearly five months after it began pre-marketing.

Bank of Communications Hong Kong branch has raised over $1.6bn from bonds in three different currencies. The pricing of its US dollar floating rate tranche defied market expectations.

Taishin Financial Leasing (China) is about to close its debut offshore loan at $100m. It is now just waiting for one of the lenders to get approval.

Keppel Infrastructure Trust (KIT) has raised S$500.8m ($369.8m) after more than doubling the size of an equity fundraising and trimming a concurrent private placement.

In this round up, sluggish economic data indicates growth headwinds, the Philippines eyes a Panda bond in April and USD/CNH futures trading volumes on the Singapore Exchange (SGX) hits record level.

In this round-up, trade talks between the United States and China continued, the Foreign Investment Law was passed by the National People’s Congress and the US urged Germany to ban Huawei

Chinese property company Fujian Yango Group Co raised $150m from a quick 1.5 year bond sale on Thursday, after a rocky start to the year.

Regular Kangaroo issuer Daimler came to the market on Thursday with its first Australian dollar issuance of 2019. Through its Australian entity, Mercedes-Benz Australia/Pacific, Daimler sold an A$150m ($106.2m) 2.5% March 2022 unsubordinated bond.

Barclays has prepared new issuance in Japan while it waits out this week’s Brexit drama. The yen market is proving popular among European banks, which are taking advantage of favourable conditions to make total loss-absorbing capacity (TLAC) issuance.

The Monetary Authority of Singapore (MAS) is considering making covered bonds eligible for repo, but Singapore dollar issuance would probably be needed, delegates at the Euromoney/ECBC Asian Covered Bond Forum heard this week. Domestic currency issuance would improve the resilience of Singapore’s banking system and potentially encourage other banks to set up programmes.