Taiwan

Taishin Financial Leasing (China) is making its debut in the offshore loan market with an $80m borrowing helmed by Bank Sinopac.

China’s effort to deleverage and rebalance the economy will be tested in 2019 as corporate defaults rise, hidden local government debts surface, and liquidity for the private sector gets squeezed, according to a January 7 poll by S&P.

Taiwan Cement Corp printed a $400m convertible bond linked to the Taiwanese dollar on Monday, marking its first equity-linked issue in over a decade.

Taiwan’s Mei Ta Industries and China’s New Hope Group have closed offshore borrowings, raising €245m and $150m, respectively. Ho Chi Minh City Power, meanwhile, has sealed Vietnam’s first onshore syndicated loan at D1.1bn ($47,000).

Taiwan’s Mei Ta Industries has closed a €245m loan, attracting five participants during syndication.

Taiwan-listed agro-chemical maker Rotam Global Agrosciences has attracted three participants to its $90m refinancing loan.

Taiwan’s Mei Ta Industries has returned to the offshore market after three years for a €220m ($254m) dual tranche borrowing.

Société Générale became the first foreign bank to sell a Taiwanese dollar-denominated green bond on Tuesday, giving a fillip to the island state’s nascent green market.

Asia Cement’s first convertible bond (CB) sale in five years was priced at the best end of terms for investors, which bankers away from the deal said was “extremely cheap”.

Taiwan-listed agro-chemical maker Rotam Global Agrosciences is tapping the loan market for $100m to refinance debt.

Taiwan’s leveraged loans market is finally set for some action, with private equity firm KKR seeking a $1.1bn-equivalent dual-currency deal to back its acquisition of LCY Chemical Corp. But uncertainties remain over whether the acquisition will get the government’s go-ahead.

Chailease International Finance Corp is turning to the loans market for an up to $250m borrowing, just a few months after sealing renminbi-denominated and Japanese yen facilities.