Asia Pacific

Philippine homebuilder Vista Land & Lifescapes sealed a successful dollar deal on Monday, despite venturing into a shaky market full of sceptical high yield investors.

The Province of British Columbia (BC) completed its second Panda bond on Wednesday, raising Rmb1bn ($150.9m) from a three year deal. The issuer went ahead with the deal despite rising yields in China – pushing the coupon to the top half of the guidance range.

India’s surprise rating upgrade at the end of last week is expected to encourage more of the country’s issuers to head to the international bond market. But while state-owned enterprises are set to see their funding costs drop, many are unclear about the benefits to what they consider an already upbeat market. Morgan Davis reports.

Shandong International Trust is set to be a test case for international investor interest in Chinese trusts, as it readies the first such IPO on the Hong Kong Stock Exchange. The sector’s opaque nature will pose a challenge, but if the company pulls off a successful listing, it will open the doors for others to follow, writes Jonathan Breen.

Chinese local government financing vehicles Binhai Investment Company and Qingdao City Construction Investment (Group) took advantage of their investment grade credentials to raise a collective $1.1bn from bonds on Wednesday.

Times Property Holdings sealed a $300m deal on Wednesday in a market that continued to prove difficult, while Orient Securities raised $500m from a 2022 bond to keep its investor base alive.

Yankuang Group Company has become the only issuer from Asia ex-Japan to venture into the dollar market on Thursday, a US holiday for Thanksgiving. But many other Chinese issuers are waiting in the wings, with a flurry of mandates announced.

Credit Suisse has officially appointed Mia Idora Ismail as head of Malaysia coverage in its Asia Pacific investment banking and capital markets (IBCM) unit.

UBS has named a top executive in Zurich to take over as its India country head from next year, according to an internal memo seen by GlobalCapital Asia.

Property management company Riverine China Holdings is seeking approval to list in Hong Kong, filing a draft prospectus with the city’s exchange on Tuesday.

Qantex Capital Markets, a Hong Kong-based interdealer broker, has joined Singapore Exchange (SGX) as a derivatives trading member.

Indonesian toll-road operator Jasa Marga has mandated banks for a much anticipated inaugural offshore rupiah bond sale.