Taiwan

Taiwanese leasing company Chailease International Financial Service is considering raising the size of its borrowing marginally to $130m, after six banks joined the deal during syndication.

Green bond issuance in Asia has taken off this year after sluggish growth in the past, according to data by Dealogic.

In this round-up, Macau’s RMB trade settlement hits a new record, RMB deposits in Taiwan see a tiny drop, Bank of China’s international RMB usage index climbs again and CSRC publishes its updated list of new RQFII quota licences.

Tat Hong Holdings, a Singapore-listed supplier of heavy machinery, has picked Taiwan Stock Exchange as the venue for listing its tower crane rental businesses in China.

Yingda International Leasing, a company owned equally by General Electric and China’s State Grid Corp, is raising a Rmb500m ($82m) three year borrowing. The deal comes with a greenshoe that allows the bookrunners to double its size to Rmb1bn.

Taiwan’s Asia Cement Corp is looking to end its more than two year absence from the convertible bond market, having obtained board approval for a $400m offering on August 11.

China’s National Development and Reform Commission (NDRC) has finally approved China Development Bank (CDB)’s long-waited Formosa bond issuance in Taiwan. NDRC’s approval of a Rmb5bn ($790m) quota will make CDB the first Chinese bank headquarters to issue in Taiwan’s RMB market.

A pair of Korean policy banks have shown their savviness by opting for single tranche offshore renminbi trade bonds dual-listed as a dim sum and Formosa bond. Strong international credits should take this fairly new structure more seriously if they are looking for opportunities to save costs and secure new investor bases at the same time.

Taiwanese electronics company Chicony Power Technology has hit the market for an NT$4bn ($128m) revolver, picking one bank to co-ordinate the transaction. The loan can be drawn in US dollars and Taiwanese dollars, depending on the borrower’s need, said a source.

Depo Auto Parts Industrial has parked for an NT$7bn ($224.5m) five year financing, with one bank in the driver’s seat.

A $480m fundraising for notebook maker Inventec Corp has launched into syndication, with one bank co-ordinating. A group of 17 banks is interested in the deal.

Korea Development Bank has opened books for an offshore renminbi offering that will be dual listed in Singapore and Taipei, marking the first such deal for the issuer and only the third one ever from a South Korean name.