Asia Pacific

Sweden has set up a Sustainable Finance Centre, as a partnership between the Stockholm Environment Institute and the Stockholm School of Economics. One of the first projects it is considering taking on is helping the International Finance Corp stimulate green bond issuance among emerging market banks.

A handful of Chinese issuers are set to go on roadshows next week to gauge investor interest for their offshore bonds.

Mahindra & Mahindra Financial Services has received “phenomenal” demand for its Rp11bn ($171m) overnight capital increase, which closed about two to three times covered, said a banker on the deal.

Vietnamese state-owned firm PetroVietnam Oil Corp (PV Oil) is planning to sell 20% of its shares in an IPO in January 2018, according to a Friday statement.

Gansu Provincial Highway Aviation Tourism Investment Group Co, a Chinese local government financing vehicle (LGFV), opted to hit the euro market to diversity into a different investor base, despite having to pay a decent premium for its debut status in the currency and a weak credit rating.

Global investors piled into Indonesian toll road operator Jasa Marga’s debut offshore rupiah bond on November 30, as the issuer raised Rph4tr ($296.1m) in a deal that opened up a new asset class.

The Philippines postpones its Panda bond deal as it awaits approval from China’s central bank, Hong Kong Exchanges and Clearing (HKEX) opens its first office in Singapore, and the renminbi falls to seventh place in the league table of the world’s most used payments currency in October.

BMW Automotive Finance (China) Co made it three and done in the ABS market this week, selling a Rmb4bn ($605.4m) transaction which had a very similar structure to its last offer in the market.

Hong Kong-listed China Tian Lun Gas Holdings has signed its HK$1.25bn ($160m) five year borrowing with a group of nine lenders, said bankers close to the deal.

India’s Housing Development Finance Corp has approved the listing of its asset management arm, hot on the heels of the successful IPO of its life insurance unit.

The Development Bank of Kazakhstan has mandated three banks for the first ever tenge senior unsecured Eurobond from the country.

Semiconductor Manufacturing International Corp pulled off a double-whammy this week, bagging $972.9m from equity and equity-linked investors. The trade was not only SMIC’s first time raising close to $1bn overnight, but also represented a rare offering of an Asian convertible perpetual bond. John Loh reports.