Real estate developer Country Garden Holdings is readying itself to become the first Chinese issuer to sell a sukuk, announcing on October 5 its intention to print an Islamic bond based on the shariah principle of Murabahah.
China held a series of high level government meetings with the UK and France in September. One of the most publicised pieces of news was the London’s plan for a Stock Connect but perhaps just as important are a number of moves by Euronext to facilitate Chinese investment on its platforms and develop new RMB products.
Taiwanese company Quanta Computer is firming up the mandated lead arranger and bookrunner group for a loan of $400m, four months after winding up a much larger borrowing via subsidiary Quanta International.
- What price Korean bonds?
- Long-onlys plug into Ascendas Reit’s S$300m perp
- Country Garden sets the stage for China’s first sukuk
- Ascendas Reit builds new Sing dollar perp
- Euronext and LSE invest in RMB plans
- Hengtou Securities covers HK$1.7bn float
- Kingsgate considers delaying Thai unit IPO
- End of the line for WVRs in Hong Kong
People & Markets
Hong Kong Exchanges and Clearing has backed down from an earlier proposal to allow weighted voting rights (WVRs) for companies seeking a listing on the bourse, bowing to pressure from the city’s securities regulator.
People’s Bank of China (PBoC) named Bank of China Zambia branch (BoC Zambia) as the latest RMB clearing bank, the central bank said in a statement on 30 September.
- Russell-Davison leaves DCM amid StanChart bonds/loans rejig
- ING hires new syndicated finance director
- Latham & Watkins hires new Hong Kong partner
South Korean bond issuers have garnered a reputation for squeezing investors for every penny possible with aggressively-priced transactions. Investors may be critical of their tactics but the market needs to recognise the savviness of this strategy.
A paper published by the University of Hong Kong argues that the city’s IPO sponsors may not in fact be subject to civil and criminal liabilities on prospectuses. This is a departure from the position taken by the Securities and Futures Commission last year, writes Philippe Espinasse.
The stock market has endured its worst summer in years, with the turmoil in China wiping out trillions in market value and causing ripples around the world. But a crucial window will open up for share sales in Asia once China concludes its Golden Week holidays in early October. Issuers should grab the opportunity to light a fire under equity capital markets.
From The Weekly
- BOCHK, HSBC lead the way for Panda bond charge
- Taiwan puts faith in foreign listings to boost equity market
- China and UK eye trading link for stock exchanges
- New bond rules fail to dent Weichai debut
- Blowout success for LIG Nex1 $447m IPO
- RBI draft widens lender base for India debt
Cartoon of the Week
- ING primed for A$750m RMBS return
- HQS 'scarlet letter' threatens to isolate US
- Ford Auto Finance (China) expands funding channel
- Australia heats up with Citi’s A$1.2bn RMBS
- SAIC-GMAC ABS sticks to the middle lane
- Citi keeps momentum going for Australian RMBS
- CBA trumps volatile markets with bigger A$2bn RMBS
- CBA all set for A$1bn RMBS return
- BoQ to market Aussie ABS in London
- SAIC-GMAC on course for China auto ABS return
More from Asia
Latest news by market and league table performance
Asiamoney: September 2015
- AIIB: regional solution or global threat?
- Wealth Management: Once bitten, not yet shy
- Wealth Management: Asian SRI’s green shoots
- Asiamoney FX Poll 2015: Opportunities amid the volatility
- Asiamoney Finance in the Middle East Awards
- Asiamoney Best Managed Company Awards 2015
- Indonesia corporate sukuk in government’s shadow
- HK Stars Index: The Good Governance Hedge?
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Bookrunners of Asia-Pac (ex-Japan) ECM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|4||Bank of America Merrill Lynch||13,259.51||88||6.22%|
Asian polls & awards
ANZ and CIMB impress in this year’s Asiamoney’s Fixed Income Poll with ANZ topping the categories for regional credit and interest rates, while the Malayisan bank comes first in regional commodities services.
Middle Eastern banks have faced a tough environment over the last year, being forced to deal with the impact of a sharp decline in the oil price on a client base that considers few things to be more important. But the best banks are those that can find a way to stand out from the crowd when times are tough, and the banks below did just that. Asiamoney is pleased to announce its picks for the best banks in the Middle East for 2015.
Asiamoney is pleased to present its choices for Asia’s Best Managed Companies 2015. The winners were the firms that impressed us the most through a combination of factors including innovation, financial performance and strategic execution, and after also surveying the views of regional analysts and investors. Our congratulations to all those chosen.
The year 2015 has been one of immense volatility for foreign exchange in the Asia Pacific region, amid capital flight from emerging markets. In such turbulence, only service providers with top-class expertise and experience can help clients to not only preserve but enhance their commercial strength. Anthony Chan reports.