Asia-Pacific New Issues: Japan goes green and blue; Macau Dim-sum

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There were blue and green bonds in Japan, and Aussie banks have been busy raising funds in the market. There was a new Macau Dim-sum deal.

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  • Japanese issuers go green and blue

  • Busy issuances by Australian banks; Macau Dim-sum

  • New issues

 

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Japanese issuers go green and blue

Japanese issuers are showing their passion for the environment this week.

 

Japanese fishery, aquaculture, and food processing company Maruha Nichiro sold the country’s first ever blue bonds, or the second in Asia this week.

 

A blue bond is a sustainability bond that is issued to support investments in healthy oceans and blue economies.

 

The proceedings of this 0.55% 5-year deal will be used to fund the company’s sustainable fishery activities, including a land-based salmon business that is a joint venture with Mitsubishi Corp.

 

People’s Government of Hainan Province of the PRC also priced today an unrated 3-tranche CNH-denominated Reg-S blue bond offer with BoC as the lead global coordinator.

 

Minebea Mitsumi and Megmilk Snow Brand, on the other hand, are planning to sell 5-year green bonds.

 

Led by Daiwa, MUMSS and Nomura, rare bond issuer Minebea Mitsumi is expected to price the deal in mid-November or later. Megmilk Snow is due to raise JPY5bn in December with Daiwa, Mizuho and MUMSS as the underwriters. The company has recently obtained approval from the Japanese government to implement its sustainability-focused business plan that targets to complete by 2025. Megmilk Snow was last in the debt capital market in December 2018 when it sold JPY10bn in 0.45% December 25, 2028 domestic bonds.

 

 

Busy issuances by Australian banks; Macau Dim-sum

Banks in Australia have been active raising good-sized fund both in the domestic and overseas market.

 

While Westpac decided to opt for the USD market with a 3-tranche short-term note offer, ANZ and CBA have both tapped the domestic market and bagged almost AUD7bn.

 

In the Dim-sum bond space, People’s Government of Guangdong Province of the PRC has showed its support to the development of the Macau market by launching a 3-year bond offer there.

 

 

New issues

AUD new issues

  • ANZ raised AUD4.75bn by selling the following bonds via itself, with final pricing a few basis point below initial guidance:

     

    • AUD1.8bn, November 4, 2027 paying AUD 3M BBSW + 120bps.

    • AUD650m, 5.35% November 4, 2027.

    • AUD1.8bn, November 4, 2025 paying AUD 3M BBSW + 92bps

    • AUD500m, 4.95%, November 4, 2025.

     

  • Auswide Bank Ltd issued AUD25m in November 7, 2025 FRNs that pay AUD 3M BBSW + 150bps.

     

  • Bank of Montreal sold AUD700m in October 31, 2025 covered bonds that pay AUD 3M BBSW + 90bps.

     

  • The Commonwealth Bank of Australia (CBA) self-led AUD2bn in November 9, 2032 bonds with single call at par in November 2027 as follows:

     

    • AUD1.1bn, paying AUD 3M BBSW + 270bps.

    • AUD900m, paying 6.86% until the call, then AUD BBSW + 270bps.

     

  • New South Wales Treasury Corp upped the size of its 1.75% March 20, 2034 bond line by AUD50m to AUD4.864bn. Priced at ACGBs + 63bps.

     

  • Tasmanian Public Finance increased the size of its existing bond lines as follows:

    • AUD50m to 2.25%, January 22, 2032 at 41.7bps over ACGBs. The new size is now AUD906m.  

    • AUD107m to its existing 3.25%, January 24, 2028 line to bring the new size to AUD1.116bn. Priced at 58.8bps over ACGBs.

     

  • Western Australian Treasury Corp priced a AUD15m increase to its existing 2.5% July 23, 2024 bonds to bring the new size to AUD5.15bn.

     

  • Westpac Banking Corp issued the following USD-denominated FRNs:

     

    • USD200m, April 28, 2023 paying USD O/N SOFR + 62bps. Lead is UBS

    • USD75m, July 25, 2023 paying USD O/N SOFR + 70bps.

    • USD250m, May 25, 2023 paying USD O/N SOFR + 66bps.Lead is JPM.

 

 

JPY new issues

  • BNP Paribas issued JPY713m in 3% October 30 2026 Nikkei-linked Uridashi bonds that pay 3% before referencing coupons with the Nikkei 225 Index from January 2023.

     

  • Goldman Sachs self-led JPY500m in 1.42% November 15, 2027 EMTNs.

     

  • Hanwa Co Ltd raised JPY20bn via selling the following bonds:

     

    • JPY5bn, 0.6%, November 2, 2027.

    • JPY15bn, 0.41%, October 31, 2025.

     

  • Maruha Nichiro sold JPY5bn in 0.55% November 2, 2027 blue bond via Mizuho and MUMSS.

     

  • Mizuho Leasing issued JPY12.2bn in 0.48% November 2, 2026 bonds.

     

  • Orix Corp raised JPY6bn via selling 0.31% October 31, 2025 bonds.

 

 

New CNH issues

  • People’s Government of Guangdong Province of the PRC has mandated Bank of China Macau branch as the global coordinator to raise CNH2bn via a 3-year Dim-sum bond sale in Macau. Further details of the deal have not been disclosed.

     

  • People’s Government of Hainan Province of the PRC sold CNH5bn worth of blue bonds and listed in Hong Kong as follows:

     

    • CNH1.2bn, 2.42%, November 2, 2024.

    • CNH2.6bn, 2.65%, November 2, 2025.

    • CNH1.2bn, 2.85%, November 2, 2027.

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