Asia Pacific

China agreed to $12.8bn of deals with the UK during the British prime minister’s state visit, RMB returns as the fifth most used global payments currency, and Aberdeen Asset Management grabs Rmb5.3bn ($842.8m) new renminbi qualified foreign institutional investor (RQFII) quotas.

China Cinda Asset Management Co raised a smaller than anticipated $2.5bn from a four-tranche deal on Thursday, despite having an order book that was about 6.6 times covered at its peak.

China Logistics Property Holdings Co (CNLP) and Future Land Holdings Co both sold bonds with less than one year tenors on Thursday, sidestepping the Chinese regulator’s tight handle on offshore fundraising.

Car rental service provider CSM Corporatama, better known as Indorent, has reached out to lenders for a $100m syndicated loan, said bankers who received a preliminary email asking them to attend a roadshow.

Schiavona International Holdings has raised HK$833.5m ($106.6m) after offloading a block of shares in real estate developer Times Property Holdings, according to a source close to the deal.

Mobile gaming company Nazara Technologies is planning to float on India’s stock exchanges through an offer-for-sale (OFS) of secondary equity, and has filed a draft prospectus with the market regulator.

Singapore's GLP will approach Chinese investors on Monday with a nine year Panda bond, one of the longest-dated deals ever to feature in the asset class.

India plans to monetise its highway assets by packaging them into infrastructure investment trusts (InvITs) for IPOs, the government said during its annual budget presentation.

It has now become common for bond issuers to stress their 'Belt and Road' credentials. But China Merchants Port has become one of the first issuers to get the official blessing to use the term.

Qatar National Bank has added to a busy run of funding with a $1bn two year private placement that it sold to a single investor, according to sources. The region's banks have tapped the Islamic and Taiwanese markets and issued in Aussie dollars.

Shanghai Pudong Development Bank is set to open its newly authorised UK branch for business next week, with initial plans for wholesale banking and vanilla securities trading.

Chinese property developer Yango Group Co was forced to call off a $250m bond this week, amid heavy Asian dollar bond supply and a spike in US Treasury yields. But while market conditions played their part in the underwhelming demand for the deal, the issuer’s credentials were also called into question. Addison Gong reports.