Hong Kong SAR

Powerlong Real Estate Holdings made a bold move coming to the market on the last day of a frantic week in Asia's debt capital markets. But it found its deal 2.7x covered and got away with tight pricing.

A unit of the Yuexiu Group is in the market for a HK$2.3bn ($296.7m) loan, which has launched into general syndication under DBS as sole mandated lead arranger and bookrunner, said sources.

Postal Savings Bank of China will raise up to HK$62.7bn ($8.1bn) via its Hong Kong IPO after setting the price range, putting it on track to be the world’s biggest listing in two years.

Asian primary bond market calmed down after a frantic Thursday, with only two issuers opening books

CME Group has expanded its reach in both Asia and Latin America, with Hong Kong and Mexico recognising the firm as a central counterparty (CCP).

Two Hong Kong-based loans bankers from Bank of America Merrill Lynch’s Asia Pacific debt solutions team have left, while Bank of Tokyo-Mitsubishi UFJ has lost its southeast Asia loans head.

Dalian Wanda Group Corp is expected to begin gauging demand for a $600m borrowing next week that help to fund the development of a tower project in Chicago, said sources.

Asia’s block market got a boost this week as investors sold down stakes in Longfor Properties Co and People's Insurance Company of China (PICC) in Hong Kong, while Lippo Group trimmed its holding in Indonesia’s Matahari Department Store.

In a shift that has some bankers worried, Hong Kong’s IPO market has reached a stage where advisers need to pitch for a deal armed with cornerstone investors. Equity capital markets houses can no longer rely on their experience and investor contacts to win business as issuers turn a deaf ear to price discovery. Jonathan Breen reports.

Drug company Jacobson Pharma Corp kicked off bookbuilding this week for its potential HK$753m ($97.1m) listing.

Junson Development International launched a block on Wednesday evening to offload some of its stake in Longfor Properties Co for a potential HK$1.8bn ($232.1m).

China Minsheng Hong Kong International Leasing’s $200m new money loan, which is due to close by the middle of this month, has obtained commitments from three banks on top of the leads.