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Sustainability-linked bonds: a win on several counts
With Asia’s sustainability-linked bond (SLB) market thrown wide open with the first transaction, there is a case to be made for the opportunities offered to both issuers and investors by this nascent asset class.
13 Jan 2021 -
Indian loans: some good news after a bad year
Asian loans bankers are expressing guarded optimism about their prospects this year. Most of their hopes are so far concentrated on India, where a mix of public and private sector deals — as well as the occasional sponsor financing — should bring some welcome supply.
06 Jan 2021 -
Buyer beware: bond investors need to get thorough
How important is reading the offering circular (OC) on a bond? Not very, according to some investors. However, that approach sets a dangerous precedent.
17 Dec 2020 -
China asset-backed notes: it’s time to stand alone
Too many Chinese investors focus on the originator more than the asset pool. That undermines one of the crucial purposes of securitization.
08 Dec 2020 -
Taiwan: banks don’t need lending guidelines
Taiwan’s Ministry of Finance has reportedly asked state-owned banks to take six steps to avoid lending to companies that will end up defaulting. Some of these steps are obvious, others are impractical — and all of them are unnecessary.
01 Dec 2020 -
Alibaba CEO learns lesson in humility
Alibaba’s chief executive Daniel Zhang has praised a regulatory crackdown on China’s technology titans. That was an abrupt turn from co-founder Jack Ma’s loose-lips policy to discussing China. Investors will be relieved.
24 Nov 2020 -
China’s bank capital market comes of age
Baoshang Bank’s complete write-down of close to $1bn of tier two debt offers an invaluable lesson to investors in China’s domestic bond market.
17 Nov 2020 -
ECB could copy Japan's special rates for reforming banks
The Bank of Japan has said that it will pay extra on reserves deposited by banks that become more cost efficient or that merge. A similar policy could well be introduced in Europe too, although perhaps with different aims.
10 Nov 2020 -
Ant’s listing failure should worry HKEX
Ant Group’s IPO suspension was a big blow to many: the fintech firm itself, the banks that worked on the huge transaction, and the investors that were salivating to get a piece of the stock. It was also a big setback for the Hong Kong Stock Exchange's reputation as an independent and attractive listing destination.
10 Nov 2020 -
China’s move against Ant Group is a gift to its critics
China’s decision to clamp down on Ant Group has derailed an IPO of at least $34bn, despite execution being finished last week. The move appears to be little more than political muscle-flexing by Beijing. The real winners will be the country’s critics.
05 Nov 2020
