Asia Pacific

India’s Rural Electrification Corp raised $400m from a three year bullet on Monday, opting for an unusual tenor for a credit from the country, but still finding more than enough support for its deal.

Asia’s green financing market has made great strides since issuance started to pick up two years ago, with 2017 seeing more regulators and issuers giving the asset class a push. But for all its impressive feats, the region’s green market is yet to come of age.

State-owned Indian lender Punjab National Bank has wrapped up a Rp50bn ($775m) capital raise through a qualified institutional placement (QIP), according to a banker on the deal.

China New Higher Education Group is making its debut in the international syndicated loan market with a HK$1.5bn ($192m) financing.

ABN Amro has appointed a veteran banker from Intesa Sanpaolo Bank to strengthen its business in Greater China.

Three Chinese issuers hit the debt market on Tuesday, launching dollar deals. While the pace of new issuance is beginning to slow down, there appears to be no end in sight for the primary bond market.

China Huiyuan Juice Group is in the loan syndications market for a €160m three year deal — its second fundraising this year.

Over the last two months, GlobalCapital Asia's team has conducted pitch meetings with banks to decide the most impressive capital markets transactions and advisers in Asia in 2017.

Emerging market bankers said a pipeline of local currency Eurobonds is building for 2018 — including another in tenge — with Development Bank of Kazakhstan’s (DBK) recent tenge trade setting a good tone in the market last week.

Hebei Construction Group has raised HK$1.93bn ($247.2m) after pricing its IPO at the bottom of the marketing range, according to a source close to the deal.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is understood to be lining up a $150m-$200m borrowing in the international syndicated loan market.

Fitch Ratings upgraded the Philippines to BBB with a stable outlook from BBB- on Monday, thanks to the country’s strong economic performance, a move that some economists said was a long time coming.