Taiwan

Cement producer TCC International Holdings has tapped the market after a two year gap, for a $450m borrowing that will refinance a loan that matures this year.

The Asia ex-Japan block trade market took flight this week as three overnight share sales priced on Wednesday, two of which were executed by Morgan Stanley and one by UBS.

Doosan Heavy Industries & Construction is selling down some of its treasury shares in a deal which could bag the firm up to W165bn ($138.3m).

Scotiabank de Costa Rica has included Taiwanese lenders in its list of invitees for a $75m two-tranche fundraising, following in the footsteps of many other borrowers from Latin America that are looking to Asia for liquidity.

European issuers are tapping into select pools of liquidity in Asia, with Taiwan and Singapore proving they can deliver both size and cost effective funding. And as deal volume in Asia declines, European bonds are also benefiting from a higher take up from Asian central banks and sovereign wealth funds. Rashmi Kumar reports.

A multi-currency transaction for Sino Horizon Holdings has wrapped up with eight lenders joining mandated lead arranger and bookrunner DBS in the dollar tranche.

Financial institutions have been propelling loan activity this year raising $4.2bn in Asia ex-Japan to become the third largest contributor to total volumes year-to-date. While Indian, Indonesian, Malaysian and Philippine banks have been regulars in the market, banks from geographies as far away as Latin America and the Gulf are also tapping Asian, specifically Taiwanese, liquidity, write John Loh and Shruti Chaturvedi.

Goldman Sachs has sold the largest offshore renminbi deal of the year, raising slightly more than Rmb1.3bn ($199m) from a Formosa bond on Tuesday.

First Gulf Bank and Goldman Sachs have both launched their first public renminbi offerings of the year in Taiwan’s Formosa bond market.

Allocations are out for a $430m five year loan for Baring Private Equity Asia’s acquisition of cosmetics packaging company HCP Global.

Qatar National Bank has sold the largest ever dollar floating rate note Formosa bond — a $625m deal — as several other issuers from the region clamour for the attention of this Taiwanese bond market.

A multi-currency loan for Sino Horizon Holdings has been launched into syndication via one bank. But as the facility size is relatively small, not all lenders will be able to get a piece of the deal.