Asia Pacific

Chinese issuers are yet again dominating the supply in Asia ex-Japan debt markets, with four firms wooing dollar and euro bond investors on Tuesday.

TCL Multimedia Technology Holdings, a Chinese consumer electronics company, is looking to add around HK$2bn ($256m) to its coffers by way of a rights issue, bringing on board BNP Paribas to fully underwrite the transaction.

Punjab National Bank is selling a 6% stake in PNB Housing Finance worth Rp13.3bn ($206.3m) through the offer-for-sale method.

Indian infrastructure finance company Power Finance Corp is taking bids for a benchmark 10 year green dollar bond, returning to the international debt market after an absence of two decades.

Jin Air, the South Korean low-cost airline, has priced its IPO at the top of expectations to raise W381.6bn ($343m), according to a filing.

Bond investors in the Philippines are struggling to ramp up their portfolios as borrowers shun the debt market in favour of cheaper bank funding, according to panellists speaking at Euromoney’s Philippines Investment Forum on Monday.

The Asian Infrastructure Investment Bank (AIIB) has added another name to its growing treasury team, with the hire again coming from a fellow supranational issuer.

The first post-IPO share sale in Thailand-listed B. Grimm Power raised Bt2.5bn ($76.6m) for the company chairman last Friday.

China Education Group has started sounding out investors for a Hong Kong IPO of around $400m, laying the groundwork for bookbuilding to begin next week.

The surge in dollar bond issuance from Asia ex-Japan continued unabated at the tail end of last week, with three issuers selling $1.1bn of deals on Friday.

Investors are broadly positive on the policy direction set by China’s 19th Party Congress, said experts at Euromoney’s Hangzhou Global Investment Conference on November 21.

A $400m loan for Bharat Petroleum Corp’s (BPCL) offshore unit was allocated last week, attracting commitments from three Indian banks during the two months it was open to participants.