Asia Pacific

Commerzbank has ended a 10-month drought in Singapore dollar-denominated tier two deals, returning this week with a S$400m ($290m) bond. What lies ahead for the southeast Asian city-state’s local currency market? Addison Gong finds out.

Chinese state-owned enterprises (SOEs) Poly Real Estate Group Co and China Minmetals Corp took different approaches to pricing their dollar bonds on Monday, resulting in diverging secondary market performances.

JP Morgan doubled a tap of its exchangeable bond (EB) linked to shares of Ping An Insurance (Group) Company of China, raising $100m on Monday.

OUE Commercial Real Estate Investment Trust will partly fund an acquisition from its sponsor through a S$587.5m ($427.2m) rights issue.

August was generally a healthy month for many global derivatives exchanges, though performance was not quite consistent across the industry.

Gas asset and infrastructure investment consortium Quadgas made its debut in the sterling corporate bond market on Monday with a £350m 11 year offering. The company had previously raised funds from the US private placement market, but this was its first benchmark public deal.

Weak emerging market investor sentiment is dragging on Indonesian high yield bonds, with market watchers blaming the dive on a spill-over effect from other emerging markets. But there are still some silver linings for the island nation.

Hua Medicine, the third biotechnology firm to list in Hong Kong, got across the finish line with an undersubscribed retail book, even though several blue-chip funds threw their weight behind the deal.

Taiwan-listed agro-chemical maker Rotam Global Agrosciences is tapping the loan market for $100m to refinance debt.

Issuers and debt bankers in Asia have their eyes fixed on the coming week for primary deal flow to gather momentum, following a relatively slow pace of issuance at the start of September.

Studio City International Holdings, the Macau-based casino resort, has filed publicly for an IPO in the US with an indicative size of $115m.

HSBC has launched a new sustainable financing programme for Hong Kong businesses, offering a cash rebate to borrowers that meet carbon emissions saving targets.