Asia Pacific

Sumitomo Mitsui Trust Bank brought its debut euro deal to the market on Tuesday as it looked to diversify its funding, racking up more than €2.3bn of demand.

Japanese issuers are not frequently seen in the European corporate bond markets, but this week could have two companies going head to head with benchmark euro transactions. Japan Tobacco will sell its first new issues in Europe, while Toyota is better known to investors on the continent.

IPOs from Asian companies have painted a mixed picture, with deals continuing to get done even as the trade war between the US and China looks set to escalate. But the incredible share debuts of Nio and Qutoutiao last week are unlikely to mark a turning point. If anything, issuers should continue to tread cautiously on pricing.

HSBC Holdings took advantage of an open window for issuance in the Singapore dollar bond market, raising S$750m ($546m) from a Basel III-compliant additional tier one deal on Monday. But potential issuers still looking to tap the currency may need to adjust their expectations.

Japan’s Hitachi Capital Corp has added to the recent flurry of issuance in offshore renminbi, bagging Rmb600m ($87m) on Monday from its second CNH transaction in a year.

Australia’s JC International Group is planning a dual primary listing on the main board of the Hong Kong Stock Exchange.

China’s O-film Tech is tapping offshore lenders for the first time for a $100m term loan, hitting the market amid escalating tensions between the US and China.

HSBC Securities Services has appointed two global co-heads — one of them a well-known figure in the debt capital markets.

BNY Mellon has appointed Sam Xu as country executive for China, effective September 18.

China Construction Bank and Shanghai Pudong Development Bank Co’s Hong Kong branch rolled out floating rate notes on Monday, grabbing both dollar and euro investors’ attention.

South Korean low-cost carrier Air Busan has filed preliminary documents with Korea’s stock exchange for the go-ahead to launch its IPO.

The Philippines’ Security Bank Corp offered a decent premium over its domestic peer to woo investors to its $300m bond offering on Monday.