Citi

Yida China Holdings, Peking University Founder Group Company, Red Star Macalline Group Corp and HKICIM Group are looking to hit the offshore debt market, mandating banks for their respective Reg S transactions on Monday.

Philippine lender China Banking Corp will offer shares in its Ps15bn ($302m) rights issue at Ps31 apiece, following a sharp rally in its stock price.

Netmarble Games has launched the international roadshow for its planned W2.7tr ($2.4bn) listing that will wrap up in two weeks in the US, drawing demand as it goes for what is set to be South Korea’s largest IPO this year.

Indonesian developer Modernland Realty closed a modest $240m deal on Thursday, against a weaker market backdrop in Asia.

Citi has hired Shawn Borisoff into its global asset managers group, one of the final pieces in its long-running build out in sponsors coverage and leveraged finance. GlobalCapital understands the bank is still looking to hire for M&A and advisory, but Borisoff represents the final piece of the sponsors build-out.

Deutsche Bank shares closed on Thursday April 6 at €15.68, well above the €11.65 subscription price in its €8bn rights issue, for which subscription closed that day.

Rating: Aaa/AAA

Russian borrowers are wasting no time in dealing with $7.3bn of their corporate bonds about to come due.

Ant Financial subsidiary Alipay (Hong Kong) Holding has launched a $3bn debut syndication via a nine-member bookrunner group. The strong showing at the top is driven by opportunities to cross-sell higher fee-generating products such as private banking, equity advisory and underwriting services to the Alibaba Group-affiliated borrower, reports Shruti Chaturvedi.

Africa Finance Corporation was on track to print a seven year bond on Thursday and had taken orders of $1.9bn on Thursday morning.

Chinese toll road operator Zhejiang Expressway Co took a road less travelled by Asian companies in the equity-linked market this week. It debuted with a euro-denominated convertible bond, becoming one of just a handful of euro CB issuers from the region in the past decade, writes Jonathan Breen.

Indonesia’s triple-C rated Indika Energy priced a $265m bond on Monday on the back of a nearly five times subscribed book. The issuer’s rating story was complicated by downgrades over the past year, but investors were willing to consider its likely future as a B2 rated credit. Morgan Davis reports.