Asia Pacific

The Chinese Ministry of Finance has successfully completed its second offshore renminbi bond auction of the year, raising Rmb7bn ($1.06bn) from three tranches on Thursday. But poor investor demand for the offering raises questions about the future of the CNH bond market, analysts told GlobalRMB.

A novel green loan for Singapore’s Wilmar International has put the focus on the potential for sustainable products in Asia. While green bonds have gained popularity in the region, the loan market is still lagging far behind — but that appears to be set to change, writes Shruti Chaturvedi.

A year after the Philippine Stock Exchange approved the issuance of dollar-denominated securities (DDS) on its bourse, the market is starting to heat up. Cirtek Holdings Philippines Corp raised $140m from just the second such deal this week, while Del Monte returned for a tap. The asset class is still in its infancy, but the advantages it offers could give a fillip to deal flow. Jonathan Breen reports.

Japan Bank for International Cooperation (JBIC) and a syndicate of lenders have provided a $2.73bn loan to finance the construction of a railway and upgrade a port in Mozambique, which will ensure the long term supply of coal to Japan from the African country.

I’ve been lucky to spend the years after my retirement never too far from my local, swilling drinks at Captain’s Bar with some good company. But the new crop of bankers retiring these days doesn’t seem content becoming a Hong Kong relic.

The Islamic Republic of Pakistan raised $2.5bn from a sukuk and a conventional bond on Thursday, finding strong support from the buy-side.

The inaugural issuance of Baikal bonds — denominated in renminbi and issued in Russia — has come closer this week as the Russian Ministry of Finance toured Hong Kong and Mainland China on a non-deal roadshow, sources told GlobalRMB.

Alibaba Group Holding navigated every roadblock on its way to a $7bn issuance on Wednesday, sealing the second largest corporate bond from Asia after its own $8bn debut three years ago. The unexpected sell-off in tech stocks and US Treasuries posed only a small challenge to the tech giant’s debt market return, writes Addison Gong.

One of the last batches of the year’s Hong Kong IPOs kept the market busy this week, even as investors started to wind down for the holidays.

Chinese local government financing vehicle (LGFV) Gansu Provincial Highway Aviation Tourism Investment Group Co launched a euro bond on Thursday, returning to the debt market a year after its international debut.

Indonesian toll-road operator Jasa Marga is taking bids for the first ever offshore rupiah bond, throwing open what has been dubbed the Komodo bond market.

Exotix Capital has brought on three new hires to its frontier markets research team ahead of the introduction of MiFID II.