Debt

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

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

Despite challenges, regional opportunities exist in structured credit, defensive corporate exposures, high-yield bonds, and emerging market sovereigns, according to MFS Investment Management's Pilar Gomez-Bravo.

The Singaporean bank continues its diversified funding strategy, achieving tight pricing for a five-year tenor. The majority of investors came from Australia, New Zealand and Asia.

Proceeds from the one-year zero coupon guaranteed bonds will be used to support the non-ferrous metal company’s overseas business.

Final orders were over S$2bn allowing UOB to upsize from its original S$500m benchmark; there was participation from 96 investors with 26% outside of Singapore.

The digital bank, which has operations in China, Hong Kong and Indonesia, is looking at M&A opportunities and developing artificial intelligence agents, with the debt and equity fundraise.

The fundraise includes $1.8bn for KKR Asia Credit Opportunities Fund II as the investment giant sees growing investor demand for allocation to private credit in the region; the fund has been used for deals in Hong Kong, India and Australia.

The southeast Asian country continues its diversified sovereign fundraising, while its fiscal deficit for 2025 widened to 2.92%.