China

Vietnamese steel company Hoa Phat Group Joint Stock Co made its bond debut at the end of last week, raising D800bn ($41.9m) from a rare domestic debt issue.

Vietnamese steel company Hoa Phat Group Joint Stock Co made its bond debut at the end of last week, raising D800bn ($41.9m) from a rare domestic debt issue.

Foreign investors have become more crucial to Asia’s local bond markets this year as undervalued currencies have offered them the double whammy of coupon returns and principal appreciation.

Vietnamese steel company Hoa Phat Group is planning to make its domestic bond debut as early as next week, EuroWeek Asia can reveal.

Industrial Bank of Korea (IBK) wants to return to the Malaysian ringgit market later this year after it closed a M$300m ($93.5m) deal last week, said a funding official.

Hopewell Highway Infrastructure, a subsidiary of Hong Kong conglomerate Hopewell Holdings, looks set to become the first corporation to sell renminbi bonds in Hong Kong, when it attempts a two year deal early next month.

ANZ National (International), the New Zealand subsidiary of ANZ Banking Group, issued a ¥12.3bn five year Euroyen deal on Friday, the biggest non-government guaranteed issue by a New Zealand bank.