DBS

Chinese government-owned China State Construction International Holdings (CSCI) raised $500m from a subordinated perpetual bond, after investors put in orders that covered the transaction by more than 10 times at the peak.

Chinese property developer JY Grandmark Holdings has launched a roadshow for an up to HK$1.45bn ($185.5m) Hong Kong listing. A source close to the situation said the IPOs timing is right, despite the turmoil in the special administrative region.

Commodities company Mercuria has closed its annual borrowing at a size of $1.2bn after 24 banks joining the deal during general syndication.

Apple supplier AAC Technologies Holdings priced its debut international bond on Wednesday, raising $388m despite concerns about its exposure to the trade war between China and the United States.

China Overseas Land & Investment (Coli) found a conducive market window for its last bond issuance of the year, raising $294m from a 10 year deal on Wednesday.

Shaanxi Xixian New Area Fengxi New City Development and Construction (Group) Co, a lower-tier Chinese local government financing vehicle (LGFV), has raised $120m in the bond market ahead of a December maturity.

India's Adani Transmission wooed investors to a $500m long-dated bond issuance on Thursday, offering them some concession for the amortising nature of the notes.

Alibaba Group Holding has kicked off its up to $13.4bn Hong Kong IPO, set to be the largest listing on the bourse for nearly a decade. Bankers are confident the deal will be a success, but they are navigating challenging times in the city’s stock market, which plunged this week as violence during protests escalated. Jonathan Breen reports.

Two Indonesian borrowers, Bank Negara Indonesia and CSM Corporatama, have launched their loans into general syndication, according to several bankers.

Baring Private Equity Asia is seeking a $265m loan to support its acquisition of India’s CitiusTech.

Bajaj Finance, an Indian non-banking financial company, has launched its debut offshore borrowing of $575m-equivalent into general syndication.

Philippine conglomerate San Miguel Corp has launched its $1.75bn loan into general syndication, after one bank joined as a mandated lead arranger and bookrunner during the senior phase.