Asia Pacific

Two Chinese companies, CMBC Capital and Luye Pharma Group, are tapping the offshore loan market for the first time, seeking HK$1.4bn ($178m) and $300m respectively.

A week of turmoil in emerging market stocks could not dampen investor enthusiasm for China’s biggest post-summer IPOs, as issuers used a mix of tight cornerstone allocations and compelling equity stories to get across the finish line. John Loh reports.

Agricultural Bank of China International raised $800m from a fixed and floating combination deal on Wednesday.

Barclays was looking to sell two tranches of callable senior debt in the yen market this week, following a similar total loss-absorbing capacity (TLAC) eligible offering from HSBC in Japan.

An extensive global roadshow paid off for Bangkok Bank’s dual-tranche $1.2bn outing on Wednesday, with a strong turnout from accounts in the US as well as Asia.

X Financial opened books on Thursday for a $121m listing on the New York Stock Exchange, as bankers believe the worst is over for China’s beleaguered peer-to-peer lending sector.

Emerging market investors are on edge, and rightfully so, as Turkey, Argentina and South Africa face up to serious economic problems. In Asia, that has triggered outflows — and risk aversion — from Indonesia, which is in a much stronger shape than its peers. But the volatility presents an opportune time to scrutinise the south-east Asian country closely.

Shandong Gold Mining launched a HK$6bn ($767m) Hong Kong IPO on Thursday, seeking funds to pay for the acquisition of an Argentinian mine — its first overseas asset.

The Depository Trust & Clearing Corporation (DTCC) on Wednesday called for "esoteric" exchange traded funds (ETFs) to be “closely monitored” and for a further expansion of clearing of derivatives and cash markets.

Société Générale sold its first non-preferred senior deal in Australian dollars this week, as international banks make better use of the currency for their total loss-absorbing capacity (TLAC) requirements.

Bank of China (Hong Kong) has raised $3bn from a Basel III compliant additional tier one transaction, drawing attention for both its size and price.

Nio, the electric car company nicknamed China’s Tesla, priced its $1bn New York Stock Exchange IPO on Wednesday off the floor.