Asia Pacific

Nissin Foods Co, part of instant noodle giant Nissin Japan, has begun meeting investors to foster interest in its potential $200m Hong Kong IPO, according to a source close to the deal.

Singapore’s green bond market cracked open a bit further on Tuesday when Canadian life insurer Manulife Financial Corp sold a S$500m ($367.5m) tier two bond, only the second green deal in the currency.

Fixed-line telecom operator WTT HK priced a $670m bond on Tuesday, with the rare Hong Kong high yield name attracting robust investor interest. Despite a choppy market, the issuer tightened pricing by 37.5bp, and the notes held up well in secondary.

Far East Horizon has boosted its latest loan to $800m from $500m, with retail lenders allotted their full commitments.

Thailand’s Gulf Energy Development Public Co has kicked off bookbuilding for a potential Bt23.9bn ($726.3m) IPO, set to be the largest listing in the country in nearly three years.

Union Bank of the Philippines is getting ready to offer international investors some variety as it sets the stage for its first dollar bond since 2004.

Wing Lung Bank, one of Hong Kong’s oldest local banks, is marketing a Basel III tier two dollar bond, just days after failing to redeem its legacy bank capital notes on their first call date.

Two green issuers from China are wooing buy-side accounts for new bonds, with Concord New Energy Group and Bank of China collecting investor orders from Wednesday morning.

Chinese issuers Xinyuan Real Estate Co and Hong Yang Group Company are attracting bids for new dollar transactions, while Oceanwide Holdings Co is set to hold a two-day roadshow in Hong Kong.

DBS Bank became the first covered bond issuer from Singapore to price a deal through mid-swaps on Tuesday.

Hong Kong Exchanges and Clearing’s (HKEX) iron ore futures, which came to the exchange on Monday, enjoyed investor interest to the tune of 1,022 contracts during the day’s trading,

National rail company Kazakhstan Temir Zholy (KTZ) has printed a $780m 10 year trade that came around 18bp wide of fair value on a yield basis, though the deal easily covers the amount needed to finance a tender offer on the borrower’s 2020s.