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  • United Overseas Bank (China), a wholly-owned subsidiary of Singapore’s UOB, sealed a Rmb1bn ($142m) 10 non-call five year subordinated bond on Monday. The trade was the first internationally rated tier-two capital bond in the Mainland debt market.
  • Hong Kong’s PCGI Intermediate Holdings, a subsidiary of FWD, raised $250m from the bond market on Tuesday. While the company hit its size target, orders were limited and the price guidance was unchanged throughout the day.
  • India’s third largest cement maker Shree Cement is one step closer to a qualified institutional placement (QIP) after getting the go-ahead from the securities regulator.
  • Yield-hungry bond investors helped the Republic of Panama to a $1.3bn dual-tranche bond that bankers judged offered little new issue premium, even as rating agencies issue warnings about a deteriorating fiscal picture in the country.
  • The price on Tunghsu Group’s only dollar bond has plunged by more than 20 points in the secondary market, following missed payments in onshore China by a key subsidiary. Addison Gong reports.
  • Industrial and Commercial Bank of China will pay an upcoming dollar bond coupon on behalf of cash-strapped Tewoo Group, honouring a standby letter of credit (SBLC) it provided for a $500m deal sold by the commodities company two years ago.