Northeast Asia

ZTO Express has revealed the terms for its upcoming $1.3bn US IPO, which will be the largest listing in the country by a Chinese firm since Alibaba Group Holdings' $25bn float in 2014.

Modern Land (China) Co ventured out with its maiden green bond on Thursday. It not only achieved the largest size for its dollar bonds to date, but also paved the way for the country’s property developers to come to the international green debt market.

Doosan Bobcat has refiled for a potential W990.9bn ($875.1m) listing on the Korean stock exchange after its first attempt for over twice that amount failed.

Export-Import Bank of Korea (Kexim) executed yet another blockbuster $2.5bn trade on Thursday just a few months after printing a deal of the same size. Korea's first four-tranche trade drew a strong response from the market, allowing the policy bank to price inside its existing curve.

A $3.5bn dual-tranche borrowing to back Tencent Holdings' acquisition of a stake in mobile gaming company Supercell, has been allocated. Three Chinese mandated lead arrangers and bookrunners held on to 60% of the loan at the end of general syndication.

In this round-up, the Shanghai Free Trade Zone introduces electronic warrants to facilitate cross-border payments for commodity companies, Macau gets high level backing for its renminbi ambitions and new RQFII quotas for Thailand and Luxembourg. Plus, a recap of our coverage this week.

Preparations for the Shenzhen-Hong Kong Stock Connect are in full swing as the Hong Kong and Shenzhen stock exchanges embark on international roadshows ahead of its expected November launch.

Asia is gearing up for a bumper week of IPOs, with two $2bn deals launching on Monday and other smaller-sized floats vying for investor attention in what has been an action-packed October.

Hong Kong Broadband Network has returned to the market after just seven months to refinance its outstanding loans. The steady downtrend in pricing for high grade borrowers prompted the move.

Standard Chartered Bank (Hong Kong) has obtained approval from the People’s Bank of China (PBoC) to become the first commercial issuer of bonds denominated in Special Drawing Rights (SDR) in the country’s interbank bond market.

Hong Kong-listed company Li & Fung has established a $2bn medium term note and perpetual securities programme, appointing Citi and HSBC as arrangers.

The South Korean government is set to ease rules on loan loss reserves (LLR) in a boost to banks’ regulatory capital ratios. But the changes, announced on October 7 by the Financial Services Commission, could leave lenders less prepared for IFRS 9. Fitch Ratings has warned.