Asia Pacific

Chinese automotive marketplace TuanChe is planning to float on the Nasdaq for up to $150m, filing a draft prospectus with the US regulator on Tuesday.

Xinyi Glass has dropped a non-financial covenant on its HK$750m ($96m) borrowing, which was launched into general syndication in August.

Korean Air Lines (KAL) closed a $350m secured deal on Tuesday backed by future ticket sales between the US and South Korea, executing the drive-by trade using a credit facility from Shinhan Bank.

Goldman Sachs has named Todd Leland as head of investment banking division (IBD) for Asia Pacific ex-Japan, as his predecessors Andrea Vella and Kate Richdale step up to become co-chairs for the region.

An A$500m ($355m) Kangaroo bond from the Export-Import Bank of Korea on Tuesday reaffirmed Australian dollar investors’ appetite for high quality credits from South Korea, amid a fall in global issuance volume in the currency this year.

Bank of China Hong Kong Asset Management (BOCHK AM) is targeting risk-averse investors with a new onshore-offshore fund that focuses on short-term paper.

Beijing Huatu Hongyang Education & Culture Corp has revived its Hong Kong IPO plans, refiling a draft prospectus with updated financial information.

The recent resurgence in Thai IPOs is reassuring amid the volatility roiling many emerging markets. But the success of the listings from Thailand Future Fund and Osotspa is far from a reflection of a booming ECM market in the country.

State Bank of India is planning to tap the equity and bond markets for Rp250bn ($3.4bn) in funds during the financial year ending March 31, 2019.

Temasek Holdings pocketed W902bn ($793m) from its second sell-down in South Korea’s Celltrion this year, after pricing it at the investor-friendly end of the range.

The Green Climate Fund’s 21st board meeting, which ended on Saturday in Bahrain, proved far more fruitful than the last one, which produced four days of painful gridlock and failed to agree any new projects. This time, the UN body approved 19 projects totalling $1.04bn.

Kazatomprom, the Kazakh producer of natural uranium, is to proceed with an IPO this year, likely surprising a few who did not expect to see an intention to float (ITF) a mere week after the company filed initial paperwork with the London Stock Exchange.