Asia Pacific

Housing Development Finance Corp has raised Rp19bn ($291.3m) from a fixed price qualified institutional placement, according to a banker that worked on the transaction.

Bank of China Macau has approached lenders for a financing of up to $500m, with details about the loan going to a limited number of banks, said sources.

Bond investors are embracing Korean Air Lines Co (KAL) after its successful debt outing in June last year. In its $300m comeback deal on Tuesday, the company managed to find demand from a group of new investors.

A member of the ECM syndicate team at BOC International in Hong Kong has left to join Goldman Sachs, according to sources close to the move.

China’s startling transformation continued last year, with the opening up the domestic bond market to foreign investors, the rise in renminbi volatility, and an all-important party meeting that cemented the power of Xi Jinping. Over the course of four in-depth articles, GlobalRMB will examine the key themes that will define this transformation in 2018. First up: the move to bring more foreign bond investors into the country.

Luye Medical, the healthcare services arm of Luye Life Sciences Group, has enlisted three banks to lead its IPO of about $500m in Singapore.

China may seem out of the woods, given the strong GDP growth recorded in 2017 and the coordinated crackdown on leverage in its financial system, but the true reckoning has yet to come, leading China economist Michael Pettis tells GlobalRMB.

Chinese video streaming platform iQiyi filed a draft IPO prospectus with the US market regulator on Tuesday. It is aiming to raise up to $1.5bn from its listing this year.

Impro Precision Industries is seeking a Hong Kong listing with Morgan Stanley as the left lead and a sponsor alongside BOC International.

Bank of China, Industrial and Commercial Bank of China and Industrial Bank Co have raised close to $3.7bn from eight fixed and floating rate tranches in three currencies. But most of the portions had to offer a new issue premium, which ranged from a few basis points to as much as 15bp.

The Tropical Landscapes Finance Facility (TLFF) secured $95m from Asia’s first corporate sustainability bond on Monday.

Indian state-owned refiner Hindustan Petroleum Corp (HPCL) has mandated four lenders for a new offshore syndicated loan.