Asia Pacific

Japanese issuers are rarely seen in the European corporate bond markets, but electric motor manufacturer Nidec made it two Japanese corporate bond sales in two days, following Japan Tobacco’s multi-tranche deal on Wednesday.

Rating: A1/A+

Japan Tobacco took the rare step of issuing corporate bonds in three different currencies on the same day when it sold its debut euro and sterling bond deals alongside a pair of dollar tranches this week. The unusual move proved to be a successful one however, with each tranche at least three times subscribed.

BOC Aviation made its fourth dollar market outing of the year on Wednesday, locking up $500m from a tightly priced floating rate transaction.

China State Shipbuilding Corp (CSSC) jumped into the busy market on Wednesday, grabbing more than $835m from a dollar/euro dual-tranche transaction.

A couple of times every year, Hong Kong faces the brunt of rather strong typhoons. But last Sunday was special, even for someone like me who has lived in the city for more than 20 years. We welcomed super typhoon Mangkhut.

Goldman rejigs FIG team — BNY Mellon names China head — Sebi quickens IPO listings

Chinese hotpot chain Haidilao International Holding pulled off top-end pricing for its HK$7.56bn ($963.3m) Hong Kong IPO this week, wooing institutions with its unique story. But the lukewarm response from retail investors is being viewed as a blessing in disguise for allocations — and hopefully for the stock’s aftermarket performance. Jonathan Breen reports.

Mapletree Logistics Trust sealed its second overnight fundraising for the year and its largest follow-on offering in a decade on Wednesday, bagging S$375m ($274m) to acquire properties in Singapore.

Chinese policy bank Agricultural Development Bank of China made its first foray into the dollar bond market on a busy Wednesday to raise $700m, alongside a Rmb1.2bn ($175m) return to offshore renminbi.

State Bank of India sold its debut green dollar bond through its London branch on Wednesday, reopening the market for the country’s issuers. But despite being a strong credit, the bank didn’t have an easy time marketing its notes against a volatile backdrop, as sceptical investors demanded a premium for emerging market risk. Morgan Davis reports.

Four Chinese high yield issuers sealed bonds on Wednesday, when a total of nine deals were priced in the primary market in Asia ex-Japan, making it the busiest day in the region in months.