UBS

Chinese issuers are yet again dominating the supply in Asia ex-Japan debt markets, with four firms wooing dollar and euro bond investors on Tuesday.

Sterling high yield bond issuance this year has now surpassed four times 2016’s figure. This week, new borrower Pinewood Studios appeared on stage.

UBS was looking to sell short-dated senior bonds in the dollar market on Monday, as banks began the week by selling defensive trades. But the pipeline is stocked with riskier deals in the run-up to the end of the year.

India’s Lodha Developers International opened books for a tap of its existing $200m 12% 2020s on Monday, more than two years after the original notes were sold.

China’s Alibaba Group Holding, which wowed the debt market three years ago with the largest G3 bond on record from Asia ex-Japan, is preparing for a comeback, mandating banks for its upcoming dollar outing.

Swiss property investor Allreal Holding sold an eight and a half year bond to investors drawn in by the spread.

Thailand’s Gulf Energy Development Co priced its IPO at the top of guidance this week, raising Bt23.9bn ($730.4m) from the largest corporate listing in the country in more than a decade. The deal was swamped with orders, reflecting investors’ eagerness to look beyond Asia’s developed markets for better returns, writes Jonathan Breen.

UBS has named a top executive in Zurich to take over as its India country head from next year, according to an internal memo seen by GlobalCapital Asia.

Times Property Holdings sealed a $300m deal on Wednesday in a market that continued to prove difficult, while Orient Securities raised $500m from a 2022 bond to keep its investor base alive.

UBS has named a top executive in Zurich to take over as its India country head from next year, according to an internal memo seen by GlobalCapital Asia.

Chiyu Banking Corp and Shanghai Commercial Bank hit the debt market for their debut international subordinated bonds on Tuesday, but each was met with a different response from investors.

Investment grade issuers China State Construction International Holdings and Shenzhen International Holdings raised $800m and $300m, respectively, on Tuesday. But their bonds struggled to perform in secondary due to lingering softness in the market.