Asia Pacific

Future Land Development Holdings got a head start on other high yield issuers gearing up to hit the bond market this week, raising $300m on Monday at a level that was 37.5bp inside initial guidance.

Investors flocked to Korea Midland Power Co’s (Komipo) green bond on Monday, funnelling $3bn of orders into a $300m deal that offered a quality credit and an attractive tenor to the buy side.

Chinese oil major Sinopec has received approval from the country’s regulator to list its retail business in Hong Kong, according to a source close to the situation.

China’s State Administration of Foreign Exchange expanded the total available quota for the Qualified Foreign Institutional Investor (QFII) scheme, one of the country’s longest-standing capital markets access programmes. The move came before the upcoming further inclusions of Chinese securities in global investment indices.

Sub-one year dollar bonds from Chinese issuers are back, but this time they are being used strategically to get reasonable pricing during tough times. Rather than condemn this tenor, it is time to view these notes for what they are — practical and providing flexibility.

Barclays has appointed Vanessa Koo as head of banking for Asia Pacific and Lars Aagaard as head of mergers and acquisitions for the region.

ASM Pacific Technology is tapping the offshore loan market for the first time, raising a HK$2.25bn ($287m) five year borrowing to refinance a convertible bond maturing in March.

IPOs worldwide have been derailed by geopolitical developments — except, it seems, in Hong Kong. Clawback columnist Philippe Espinasse investigates.

Luxury cosmetics company L’Occitane has agreed to buy UK skincare brand Elemis for $900m, in what will be its biggest acquisition since it listed at the turn of the decade.

The Philippines is preparing a sovereign catastrophe bond, the World Bank said on Monday. The imperilled country could be the next to use the instrument as insurance against natural disasters.

China’s Dalian Wanda Group has filed for a US IPO of up to $500m for its sports business, according to a source close to the deal.

Shandong Qingyuan Group has closed a $430m one year self-arranged club loan with five participants.