Citi

A trio of Asian firms listing in the US have received stellar responses to their IPOs, with Qudian, Rise Education and Sea all getting the thumbs-up from investors.

The Chinese Ministry of Finance (MoF) has begun mandating underwriters to issue two tranches of sovereign dollar bonds – the country’s first outing in the dollar market for more than a decade.

Citi has promoted Cecile Ratcliffe to markets head of France, Belgium and Luxembourg.

The Development Bank of Japan has managed to yank the spread in by 8bp for its third sustainability bond on Wednesday, which was still more than three times subscribed.

Edra Global Energy, the Malaysian power producer formerly affiliated with embattled sovereign wealth fund 1MDB, has started sounding out investors for its IPO.

Investors rushed toward the Rp113.7bn ($1.7bn) IPO of General Insurance Corp on Wednesday, bringing enough orders to cover over 70% of the book by midday, a show of early demand rarely seen in bookbuilding for an Indian listing.

Malaysia’s Genting Group grabbed an additional $500m on Tuesday from the tap of its debut bond sale earlier this year.

Both the European Financial Stability Facility (EFSF) and Dexia Crédit Local were able to take advantage of a strong market and cut 3bp from the spreads paid on their euro benchmarks on Tuesday.

UPC Holding, the telecoms company owned by Liberty Global, and UK car glass specialist Belron announced multi-currency term loan offerings on Tuesday.

Malaysian conglomerate Genting Group is looking to add to its inaugural bond sale from earlier this year.

The lead banks on Keppel-KBS US Reit plan to kick off pre-deal investor education for the $500m Singapore IPO towards the second half of this week.

Asian investors have piled into Qudian’s IPO on the New York Stock Exchange, with the $825m fundraising heavily oversubscribed even before it begins roadshows in the US, said bankers.