Asia Pacific

The European Commission has unveiled a portfolio of financial guarantee transactions it is doing to support development in Africa and regions bordering the EU. Among them are two programmes conducted by the African Development Bank, including its new synthetic securitisation.

Assets allocated to US exchange traded products and funds hit a record high in August, after assets left the space when volatility returned to US markets in February.

Chinese local government financing vehicles are under immense pressure, with the ratings of 11 LGFVs downgraded last week. But the focus for now is on the upcoming redemption of Qinghai Provincial Investment Group’s $300m bond next week — key to investor confidence in the sector.

The African Development Bank is preparing to launch a Panda bond programme, following the inclusion of the renminbi in the valuation basket of the issuer’s reporting currency.

The Indian government has put in place new initiatives to attract capital and curb the country’s expanding deficit, including easing fundraising through overseas bonds and loans, which market watchers say are small but important steps.

Shareholders of Hangzhou Lianluo Interactive Information Technology have approved its plan to list Newegg, a consumer electronics retailing website, in the US.

China Everbright International raised HK$10bn ($1.3bn) from a rights offering last week, with the cash call oversubscribed by shareholders.

US president Donald Trump takes to Twitter to clarify trade deal with China is not imminent, likely delaying planned trade talks, Hong Kong Exchanges and Clearing defers Stock Connect investor ID due to super typhoon, and index provider FTSE Russell will announce its A-shares decision on September 26.

Sumitomo Forestry, the Japanese forestry company that specialises in housing, became the first ever issuer of a green convertible bond this week, pricing a ¥10bn ($90m) five year zero coupon note.

Strong demand from bank lenders has allowed Health and Happiness International Holdings to bump up the size of its dual-currency loan to $450m-equivalent.

China Construction Bank raised S$300m ($219m) through its Singapore branch on Thursday, opting for a two year tenor to offset rising funding costs since its debut in the currency last year.

The Republic of Korea ended up with a peak order book of a whopping $9.5bn for its $1bn dual-tranche issuance on Thursday, as global market headwinds proved a boon.