Asia Pacific

In this round-up, Ping An Bank’s latest convertible bonds broke demand record, state-owned enterprises posted strong growth, and Traiana partnered with Hong Kong Exchange and Clearing to provide OTC clearing.

In this round-up, the People’s Bank of China launched the first targeted medium-term lending facility (TMLF), a central committee for deepening reform signed off on Shanghai tech board launch, and the central bank set up bills swap to support banks’ perpetual bonds.

Yes Bank has appointed former Deutsche Bank India’s managing director and chief executive officer Ravneet Gill as its new head.

Law firm Ashurst, which operates in Singapore through its foreign law alliance Ashurst ADTLaw, has appointed Michelle Phang as co-lead of its corporate transactions team in the city-state.

Hong Kong-listed Wharf Holdings, whose operations span property development and investment, is seeking a HK$8bn ($1bn) borrowing at tight levels.

Chinese drug developer Luye Pharma Group has closed a $300m loan after a five-month syndication.

Sixteen European industrial companies have formed the Corporate Forum on Sustainable Finance, to grant themselves a stronger voice in the green bond market and promote the use of sustainable finance products.

Fearful of missing out and in the absence of competing credit supply, investors piled into higher yielding covered bonds offered by Canadian, Australian and Swedish issuers this week. A negative new issue premium Royal Bank of Canada’s five year epitomised the state of investor frenzy.

Korea Western Power (Kowepo) chose an appropriate week to launch the first ever green bond in Swiss francs from an emerging market issuer – and not just because sustainability was high on the agenda at Davos. The deal also came in a week in which representatives from the IFC and the Swiss Secretariat for Economic Affairs (SECO) met in Bern to discuss the results of a consultation on impact investing among more than 100 members of the Association of Swiss Sustainable Finance (SSF).

Japanese banks are unlikely to enjoy any let-up from razor-thin net interest margins in 2019. This is worrying for their long-term sustainability, but it’s potentially a bonanza for DCM specialists in Europe and the US.

Three companies have signed sustainability-linked and green loans this week, as the product's seemingly inexorable rise brings it to new companies and into new countries.

Investa Commercial Property Fund (ICPF) has signed the first green loan from an Australian borrower, as sustainability-linked lending continues to gain global traction.