Asia Pacific
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VPBank Finance, the consumer finance arm of state-owned Vietnam Prosperity Bank, has closed its loan at $185m with 13 participants joining during syndication. -
Commitments from a 15-strong syndicate group has allowed China’s Kingboard Chemical Holdings to increase its loan to HK$7bn ($892m) from HK$6bn.
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ICBC International Holdings' Thursday outing drew attention in both the primary and secondary markets. Its $700m floating rate note transaction captured a $5bn-plus book at its peak, with the bond then trading 8bp-10bp tighter in the aftermarket.
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Online travel service provider Tongcheng-Elong Holdings is seeking up to $900m from a listing in Hong Kong, according to a source close to the transaction.
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Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is making a quick return to the loan market for an up to $300m fundraising.
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In this round-up, US and China go tit-for-tat in trade war, a federation of Belt and Road exchanges is on the way, and Saxo Bank launches Stock Connect offering.
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Heungkuk Fire and Marine Insurance Co, which kicked off bookbuilding for a dollar bond on Thursday, was still speaking to investors on Friday morning, according to a source close to the situation.
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Xiaomi has covered its whopping HK$48bn ($6.1bn) listing thanks to a strong flow of early orders, according to a book message sent out on Friday morning, a day after bookbuilding kicked off.
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HSBC has named Hemant Lodha as head of the financing solutions group, debt capital markets, Asia Pacific, with immediate effect, according to a memo seen by GlobalCapital Asia.
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A new drive to encourage bondholders to "engage" with issuers — jargon for asking them to improve their behaviour — is set to be started by a well known corporate bond investor who has joined an NGO.
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Governments’ interest in issuing green bonds remains very patchy, despite the rapid growth in other parts of the market. Among large banks, issuing green bonds now seems almost de rigueur, but that is certainly not the case for governments.
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Fixed income investors should be better prepared for a trade war between the US and China, according to Arvind Rajan, managing director and head of global and macro at PGIM Fixed Income.
