Asia Pacific

Indonesia’s Wijaya Karya Realty is building books until mid-next week for an IPO of as much as Rph3.2tr ($230m).

The debt market in Asia ended the week on a muted note, with both investment grade and high yield dollar spreads widening amid a rise in US Treasury yields. The primary bond market was also quiet with no international issuance on Thursday and a lone Chinese issuer collecting bids on Friday.

The Central American Bank of Economic Integration (Cabei) was back in Taiwan’s Formosa market on Friday with a renminbi-denominated bond, more than 18 months since its last renminbi-denominated issuance.

Three firms have submitted their listing applications in Hong Kong as the city’s IPO filing season goes full steam ahead.

South Korea’s SK Lubricants has withdrawn its up to W1.6tr ($1.5bn) IPO after failing to get the desired valuation, according to a filing with the country’s financial regulator on Friday.

The Development Bank of Kazakhstan was set to price its tenge denominated Eurobond on Thursday evening in London from a book that was at the last update approaching Kt140bn.

The Development Bank of Kazakhstan (DBK) has released price guidance for its second tenge Eurobond in five months.

Chinese oil and natural gas producer CNOOC jumped into the bond market on Wednesday for a dual-tranche deal, raising $1.45bn.

Indonesian company Surya Pertiwi has raked in Rph1.25tr ($90m) after pricing its IPO at the bottom of the range, according to a banker close to the deal.

The Singapore equity capital market was hit by some unpleasant news this week when a pair of IPOs were shelved in quick succession. The move drew mixed responses from bankers, with one saying it highlights the city’s dwindling appeal as a listings hub, and others promising a busy year ahead for equity raising. John Loh reports.

Hong Kong-listed Car was caught in the eye of an onshore storm this week as bond investors retreated after initial excitement over the central bank’s move to boost liquidity. But the borrower found joy elsewhere — from a visit to the dim sum bond market. Noah Sin reports.

Fiat India Automobiles, the India-based wholly-owned subsidiary of Italy’s FCA Group, has cut the price of a $250m old project loan by converting it into a corporate finance deal.