DBS

The Asian market has shrugged off North Korea’s missile test over the weekend, with Nan Fung International Holdings and Metallurgical Corporation of China launching new deals on Monday morning.

China Mengniu Dairy has sealed a $194.8m exchangeable bond following a strong response from investors during wall-crossing, according to a source close to the deal.

Transportation Partners and China National Chemical Corp will meet fixed income accounts for their respective dollar bonds, while names like Poly Culture Group Corp, Macrolink Culturaltainment Development Co, Oceanwide Holdings Co and Jiangxi Ganfeng Lithium Co are planning to go offshore.

BOC Aviation priced its latest five year bond well inside theoretical fair value, helped by its strong financial position, a healthy book and a clear existing curve. But its secondary performance was affected on Thursday by the political turmoil in the US that has caused volatility.

BOC Aviation is out with a five year bond while Industrial and Commercial Bank of China Dubai branch is making a swift return to the market with a euro offering following a dollar outing on Monday. More deals are also in the pipeline.

Star Energy Geothermal has wrapped up its $660m dual tranche loan with 13 banks, following a three month syndication. The money was partly for the company’s purchase of a stake in Chevron’s Indonesian assets.

Industrial and Commercial Bank of China’s Dubai branch is out on Monday with a dual-tranche floating rate transaction, while logistics group ESR is meeting fixed income accounts in Hong Kong and Singapore this week.

One of Asia’s most frequent borrowers BOC Aviation has mandated six firms for a dollar-denominated Reg S outing, with roadshow set to take place early next week.

Investors have a chance to buy bonds from Indonesian government-owned electricity distributor Perusahaan Listrik Negara (PLN), which is back in the international market for the first time in over four years. Meanwhile, Singaporean property developer Oxley Holdings is tapping its $200m notes.

Bank of China’s Singapore branch raised $600m from a three year floating rate bond on Thursday, marking the lender’s second issuance this year supporting the Chinese government’s Belt and Road initiative.

Ant Financial subsidiary Alipay (Hong Kong) Holding will increase the size of its $3bn loan, taken to partly support its bid to acquire Dallas-based MoneyGram, according to bankers. The news comes about a fortnight after Alipay raised its offer for MoneyGram by around $300m.

SOCAM Development raised $200m from the sale of a new three year bullet on Thursday, the issuer’s debut international bond.