Northeast Asia

Industrial and Commercial Bank of China’s Hong Kong branch made a quick return to the floating rate bond market, raising $700m from a dual-tranche outing on Monday. The lender was focusing more on price over size, with its five year proving to be investors’ sweet spot, according to bankers.

South Korea’s Posco this week offloaded its entire stake in shipbuilder Hyundai Heavy Industries, raising W190.9bn ($167.9m) on the back of a booming stock price.

High-end solar panel maker REC Solar has tasted success with its first Asian syndicated loan attracting enough demand for it to raise $330m after exercising a $25m greenshoe.

Road King Infrastructure grabbed $300m on Monday from the sale of its second fixed for life perpetual bond this year, taking advantage of investors’ eagerness for yield.

The Luxembourg Stock Exchange (LuxSE) has signed an agreement with the Shanghai Stock Exchange (SSE) to launch a green bond index that will provide synchronous quotes in China and Europe.

ANZ has hired Sonny Lin as the new head of markets for Taiwan, poaching him from Standard Chartered.

Brightoil Petroleum (Holdings) is marketing its maiden international bond, while Gome Electrical Appliances Holdings is taking bids for a tap of notes printed earlier this year. China Gold International Resources Corp, meanwhile, is meeting investors later this week for its second offshore outing.

The Export-Import Bank of Korea returned to DCM on Tuesday for a floating rate dollar Formosa deal, a few weeks after Kookmin Bank broke open the market for a new batch of issuers from the country.

South Korean steel giant Posco launched a block in Hyundai Heavy Industries on Monday evening, seeking up to W193.3bn ($170.5m), according to a termsheet seen by GlobalCapital Asia.

Dongying Lufang Metals Material HK has rolled out a $200m syndicated deal with two mandated lead arrangers and bookrunners. It is looking to refinance a one year loan from last year that falls due soon.

FIT Hon Teng has launched pre-deal investor education for its potential $500m Hong Kong IPO, according to a banker close to the deal.

China Reinsurance Finance Corp is looking to tap its 2022 notes issued in March.