Banks

Chinese stock markets led the decline among all major Asian indices on Monday, as woes in the region’s bond market also continued. Debt issuers aiming to kick off their deals this week have their work cut out for them.

Azure Power Global, the Indian solar energy producer, raised $185m from a follow-on offering after its Canadian shareholder stepped in to buy more shares than expected.

The Development Bank of Mongolia is ready to return to the dollar bond market after a six year hiatus.

Afreximbank was able to launch a $500m five year dollar transaction, pulling in the spread despite what a banker at one of the leads called 'choppy conditions'.

Romania was able to cut the spreads on both tranches of its euro benchmark on Thursday.

Thai energy drinks manufacturer Osotspa has raised Bt15.1bn ($459.5m) from its IPO, taking advantage of a quiet market and its familiarity among investors to price at the top of the range.

Vinpearl raised $125m on Thursday night after tapping a $325m exchangeable bond sold in June, managing to navigate the sea of red in equity markets.

A spike in US Treasury yields on Thursday had a knock-on effect on bond spreads in Asia, posing an additional challenge for issuers ready to head out the gates next week.

Private equity firm KKR has pocketed D4.88bn ($209.5m) after exiting Masan Group through Vietnam’s largest block trade, according to a source close to the deal.

Saudi Arabia’s newfound zeal for international loans is testing some lenders’ credit limits for the country, as banks prepare to digest an up to $50bn financing for Saudi Aramco. Michael Turner reports.

A sharp sell-off in US Treasuries after the release of stronger than expected US economic data has changed the landscape for dollar issuance. Ten year benchmarks could be possible, although one product investors would normally welcome in a rising rate environment — floating rate notes — is unlikely to make a big comeback.

UK banks are finding safe harbour in the dollar market as investors in other currencies grow nervous that the country will end up with a messy break-up with the European Union. Their reliance on dollars for capital is only likely to increase as Brexit day approaches.