Asia Pacific

Shandong International Trust Co is preparing to open books for its Hong Kong listing on November 27, having found enough anchor and potential cornerstone investor demand after two days of pre-marketing to cover the IPO, according to a banker working on the deal.

Reliance Industries took advantage of the receptive market backdrop this week to seal a $800m bond on Monday, getting away with the tightest 10 year dollar note from an Indian corporate, according to bankers.

The year-end bond rush is upon us, with a number of issuers from China, India and South Korea mandating banks on Tuesday for their planned dollar bonds.

GAC-Sofinco Auto Finance completed a Rmb4bn ($603.6m) asset-backed securities transaction on Monday, its first in China since 2014. The originator focused on tight pricing, thereby snubbing investors vying for a bargain, but it still gained the support of accounts familiar with its business.

Property developer Soho China has filed for a Rmb10bn ($1.5bn) medium term note programme with the National Association of Financial Market Institutional Investors, in preparation for its debut deal in the Panda bond market.

China’s Tianqi Lithium Corp raised $300m on Monday, with its dollar bond debut being more than six times covered. Several factors coincided to give the deal a fillip, including the scarcity value of the company's notes, its market leading position, and a yield pick-up over similarly rated state-owned names.

China Resource Cement Holdings is making a return to Panda bonds more than a year after its debut in the Mainland’s onshore renminbi market.

Banks running dollar deals for Philippine homebuilder Vista Land & Lifescapes and Indonesian energy company ABM Investama steered the transactions to success on Monday despite a shaky market for high yield credits.

The Islamic Republic of Pakistan has set the stage for a dollar-denominated sukuk and a dollar conventional bond, hiring banks for the transaction.

Credit Suisse has boosted its China equity research coverage, hiring 11 analysts to its Asia Pacific research team in recent months.

India’s Yes Bank has raised ¥16.5bn ($150m) in its maiden foray to the Japanese Samurai loan market, coming close on the heels of a $250m syndicated financing tied up with Taiwanese lenders a month ago.

Chinese issuers are storming the debt market this week, with Tuesday seeing the Export-Import Bank of China (Chexim), Shanghai Commercial Bank and Oceanwide Holdings Co among the borrowers enticing investors.