Insurance conglomerate China Taiping is meeting investors this week for a subordinated perpetual offering. If the deal goes ahead, Taiping will be the first ever Asian insurance company to issue a dollar perpetual hybrid.
Malaysia’s Bumi Armada set the price for its upcoming rights issue on Wednesday, though a date for the transaction is still up in the air. In response, the company’s largest shareholder launched a block deal in order to fund its take up of the right issue.
Chinese state-owned company GDH has launched a $200m dual tranche loan into general syndication.
- China Taiping meets investors for perp
- Debut Formosas from BoC and CCB Taipei branches
- Link Reit prices as Asian investors return from break
- Don't ignore Sing dollars once the summer lull is over
- Shareholder launches block as Bumi Armada fixes rights price
- Investors get comfy with OSIM S$170m convertible
- Indian GDRs no longer make a splash
- Tax and ownership questions muddle HK-Shanghai Stock Connect
Standard & Poor’s has appointed Matthew Bosrock as executive managing director, head of Asia Pacific (ex-Japan). He succeeds Dominic Crawley, who returns to the UK to resume his role as global head of S&P’s financial services, sovereign and international public finance practices.
France, the European country that is expected to be next in line to be granted its own offshore renminbi clearing bank, is targeting a broader RMB clearing house structure. If the eventual choice of system involves a netting approach similar to that used in Hong Kong, it could give France a distinct advantage, according to Francois-Xavier Thomas, senior business developer of client coverage and international network at Crédit Agricole.
- HSBC’s Bosrock picked to lead S&P Asia Pacific
- Grisdale moves up the commercial banking ladder at HSBC
- SocGen promotes Baader to research chief
The ice bucket challenge has been all the rage on social media recently, but Indian GDR issuers have been taking a cold shower for quite a while longer, writes Philippe Espinasse.
While the rest of Asia’s markets have been taking their summer breaks, Singapore dollars have been revving up. Recent deals have shown that the market can offer a strong alternative, with bigger sizes and longer tenors than dim sum — and even the opportunity to price through the dollar curve.
Indonesia’s Berau Coal Energy tried to tip the balance in its favour with its bond offering last week by asking investors to take on greater risk but not compensating them for it. Unsurprisingly, the deal did not see the finish line. BCE would do well to keep in mind the age old adage that you can’t have your cake and eat it too.
From The Weekly
- Term loan Bs come to Asia as investors mull first deal
- First Malaysian plantation Spac ahead as Chemara gets ready
- September a squeeze for bond market borrowers
- Thai Berli Jucker looking for €675m bridge
- OCBC in limelight with jumbo $2.7bn rights issue
- Yingde Gases looks set to prove high yield is still in demand
Cartoon of the Week
- Total Derivatives: CNY well bid pre-PMI; steeper curve
- Total Derivatives: 5y CNY bid after sharp FDI decline
- Total Derivatives: Is a short-end CNY correction due?
- Total Derivatives: CNY 5y leads post-data flattening
- Total Derivatives: All eyes on one year CNY swap
- Total Derivatives: PBoC backs offers; CNY 1y may correct up
- RMB option innovations prepare Chinese corps for complex FX hedging
- Total Derivatives: CNY offered after PMI
- Total Derivatives: PBoC drives offers; Shibor tweak
- Total Derivatives: CNY curve correction seen continuing
More from Asia
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Bookrunners of Asia-Pac (ex-Japan) ECM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
Bookrunners of Asia (ex-Japan) G3 DCM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|4||Bank of America Merrill Lynch||13,895.40||78||0.00%|
Asian polls & awards
Every year we choose which are the standout financial institutions in each major Asian market. In Vietnam, Military Bank rises above a lacklustre field of competition for best getting a handle of its costs and bad debts.
Each year we choose the leading bank, equity brokerage and debt house across every major market in Asia. In Taiwan, E.Sun Financial Holding shines for its efforts in building non interest income, while Yuanta fends off tough competition to lead in equity and bonds.
Each year we choose the leading bank, equity brokerage and debt house across every major market in Asia. In Thailand, Siam Commercial Bank beats arch-rival Kasikornbank to be named top lender, while Phatra Securities remains top for equities in tough conditions and Bangkok Bank stands tallest for bonds.
Each year we choose the leading bank, equity brokerage and debt house in each major market in Asia. In South Korea Shinhan Bank continues to shine for its credit risk management and diversification, while Woori Investment & Securities shines in equities and KB Financial Group proves strongest in debt.
Each year we choose the leading bank, equity brokerage and debt house in each major market in Asia. In Singapore OCBC's efforts to expand into North Asia via the purchase of Wing Hang Bank impresses, while DBS retains its stranglehold of capital markets coverage.