China
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Australian banks dominated the Hong Kong dollar bond market this week, with Commonwealth Bank of Australia, National Australia Bank and St George Bank all showing they were prepared to pay up to price new issues.
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HONG LONG Properties, the Hong Kong listed property developer, is considering adding warrants to its $200m bond to make the delayed issue more attractive to potential investors.
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An influential Sri Lankan politician has tried to derail the country’s first bond issue by warning one of the banks mandated on the deal not to proceed.
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EuroWeek learned this week of a recent $300m private debt placement for Hengda Real Estate, a Chinese property developer based in Guangzhou, suggesting that demand for private debt is returning, though the public dollar bond market remains hamstrung.
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Swiber, the Singapore-listed offshore engineering company, launched a S$108.5m three year bond on Monday in what is the largest bond launched by a Singaporean company since early June.
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The Export-Import Bank of China, one of the country’s three state-owned policy lenders, priced its Rmb2bn ($262m) bond on Monday, becoming only the second Chinese issuer to launch a deal in the Hong Kong market.
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The International Finance Corp, the private sector arm of the World Bank, has mandated Standard Chartered to arrange its first Philippine peso bond since the Asian financial crisis.
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China’s securities regulator this week published the final rules for the sale of corporate bonds, simplifying the approval process and setting the scene for rapid market growth.
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Toyota’s Thai leasing subsidiary priced a Bt3.5bn ($105m) bond last Thursday (August 9) after exercising an option to enlarge the deal on the back of strong demand.
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