Asia Pacific

China Fortune Land Development tapped the bond market with a $530m two year deal, generating a final order book that was almost 10 times covered as it attempts to draw a line under a difficult 2018.

In this round-up, trade talks continued in Washington DC on Thursday and Friday, Greater Bay Area development plans focused on Belt and Road and RMB internationalisation and Norman Chan announced his retirement from the HKMA.

In this round-up, Malaysia's finance minister said his country may sell a Panda bond, the HKMA and the PBOC are working on cross-border mobile payments and Chinese issuers raised $8bn from the offshore market.

BNP Paribas has made Mrinal Parekh its new head of equity capital markets for southeast Asia and India, according to a source familiar with the matter.

CStone Pharmaceuticals will list Hong Kong’s first biotech IPO of 2019 next week, getting things moving with a deal that bankers said is a sign of a maturing market after 2018's rush of deals.

South Korean discount store chain Homeplus Stores is set to cash in on its properties as it readies a mammoth IPO for Homeplus Real Estate Investment Trust. The listing is being flagged by bankers on and off the deal as the spark needed to bring life to a languishing Korean Reit market. Jonathan Breen reports.

China Construction Bank (CCB) and China Citic Bank International this week priced Basel III-compliant tier two deals, raising $2.35bn between them. The deals represent only the latest supply from Asia’s bank capital market, which is gearing up for a busy year. Addison Gong reports.

Taiwanese banks are turning to southeast Asia to diversify their loan books, as they find it harder to get credit approval for loans to mainland China. But they are still getting used to the market — and some complain that pricing remains unpredictable. Pan Yue reports.

Morgan Stanley names ECM head — Fasso joins PineBridge — Citi China makes promotions

Shriram Transport Finance Co raised $400m from first dollar bond on Wednesday, becoming the first Indian high yield borrower to tap the offshore market in just over a year.

China’s Fujian Yango Group Co this week set out a dramatic rise in the coupon on an outstanding bond, in a bid to avoid an investor put in April. The move left market participants confused, with one calling it ‘very odd’.

There are just five more weeks until the UK is due to leave the European Union. Is now the time for this old China hand to make his return?