Debt

As investors show more confidence in China's onshore bond market, Singapore's UOB priced a three-year panda bond at 1.83% on March 18, while Deutsche Bank and BNP Paribas also issued panda bonds worth over Rmb5bn this month.

Across four tranches, it the Singapore firm's inaugural Australian issuance and continues the infrastructure platform's fundraising momentum with its largest private placement.

The government bond was priced at a 5.95% yield, tightening from an initial guidance of around 6.3%.

Issuances for offshore Rmb bonds now exceed Rmb1 trillion -- transitioning from a policy ambition to a commercial solution in less than two decades. Christopher Chu examines the trend, which started in 2007, as part of FA’s 30th anniversary coverage.

It is the first Hong Kong dollar issuance by the South Korean investment firm.

The buoyancy in the sector is being driven by multiple factors, including regulatory shifts, policy support, and debt capital market activity in the city.

Hong Kong payment platform Wonder has raised $12m in venture debt from HSBC Innovation Banking to accelerate its regional expansion.

Amid regional market momentum, the global bank has a strong pipeline of Apac deals across ECM, DCM and M&A.

Chinese transactions are benefitting from a booming IPO market in Hong Kong, which is driving Asia growth from a low base.