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GC Asia
IPOs
Neusoft Education Tech kicks off HK$1bn IPO
Neusoft Education Technology, a Chinese private higher education provider, hit the road with its Hong Kong IPO this week, aiming to raise HK$1.04bn ($133.8m).
08.15 AM
Covid-19 Crisis
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Investment Grade
Formosa seeks $2bn, set to create new pricing benchmark for Taiwan loans
Taiwan’s Formosa Plastics Corp has sent out a request for proposals for a $2bn loan to support its Vietnam business. Bankers expect pricing on its deal to reach a new low for borrowers from Taiwan — and set a benchmark for future transactions.
05.15 AM -
People & Markets
Credit Suisse snares CLO veteran from Natixis
Credit Suisse has hired Dimitris Papadopoulos as a managing director from Natixis to run origination and syndication of CLOs in EMEA.
17 Sep 2020 -
ABS
Santander brings full cap-stack SRT auto deal
Santander priced its €520m full-cap stack significant risk transfer (SRT) deal auto deal, Santander Consumer Spain Auto 2020-1 on Wednesday.
17 Sep 2020 -
ABS
Securitization market sees new asset classes on the horizon
More niche asset classes will make their securitization market debut in coming years as online and tech-focused companies pour into the capital markets to access new sources of financing, said ABS market participants speaking at Global ABS 2020 on Thursday.
17 Sep 2020 -
SRI / Green Bonds
Has IFFIm blazed a trail for others?
Cyrus Ardalan, chair of the board of directors at the International Finance Facility for Immunisation (IFFIm), discussed whether others could follow his organisation's model to finance solutions to social challenges at the GlobalCapital Sustainable and Responsible Capital Markets Virtual Forum 2020 on Wednesday.
16 Sep 2020 -
Investment Grade
Cathay Pacific seeks consent for extension option
Cathay Pacific Airways is asking lenders’ consent to exercise the extension option on a 2017 loan.
16 Sep 2020 -
CLO/CDO
Fair Oaks mandates Barclays for ‘print and sprint’ euro CLO
Fair Oaks Capital has adopted an unusual ‘print and sprint’ approach to its third European CLO, mandating Barclays to launch the €350m deal entirely without a pre-existing warehouse.
14 Sep 2020 -
Supranationals & Agencies
New Development Bank readies second dollar bond
The New Development Bank has appointed the syndicate to lead its second dollar benchmark, the proceeds of which will fund its coronavirus response.
11 Sep 2020 -
IPOs
Neusoft wins approval for Hong Kong listing
Neusoft Education Technology, a private higher education provider, got the go-ahead for its IPO this week from the Hong Kong Stock Exchange.
11 Sep 2020 -
IPOs
Huazhu Group kicks off HK$7.3bn HK secondary listing
Chinese hospitality company Huazhu Group has launched a secondary offering in Hong Kong, the latest in a growing number of dual listings on the bourse.
11 Sep 2020 -
IPOs
Coronavirus drug maker SciClone Pharma eyes Hong Kong IPO
SciClone Pharmaceutical (Holdings), a Chinese biopharmaceutical company that claims to have developed a drug to treat Covid-19, is seeking the greenlight to list in Hong Kong.
09 Sep 2020 -
The View
Asia’s answer to green bond push lies in China property
Green dollar bonds from Chinese high yield real estate developers are rare, but property companies have the potential to push the green market in the region to the next level — and see some pricing benefits in the process.
08 Sep 2020 -
Equity
Congestion fears as ECM rush shows no sign of stopping despite $6bn week
EMEA equity capital markets started September with a flurry as banks rushed to print deals in the first week of the traditionally busy autumn issuance window. There is far more to come though and investors are concerned that some deals will struggle to find the attention they warrant.
07 Sep 2020 -
Investment Grade
CNCB to repay debut loan after covenant waiver struggles
CNCB (Hong Kong) Investment, a subsidiary of China Citic Group, is planning to repay a $800m loan raised in 2018 after struggling to get consent from lenders for covenant waivers.
07 Sep 2020 -
ABS
Securitization data repositories get Commission go-ahead
Securitization data repositories proposed by Dutch MEP Paul Tang back in 2016 will begin their application process on September 23 this year, requiring both EU and UK ABS issuers to report data to the new entities.
04 Sep 2020 -
Comment
Paying cross-border, pitching monetary rocket fuel, picking tech winners
This week in Keeping Tabs: a start-up’s plans to change correspondent banking; an argument for dual interest rates; state aid after Brexit; and etiquette in the coronavirus age.
04 Sep 2020 -
Corp
Modernland misses bond payment
Indonesian property developer Modernland Realty missed a coupon payment on its dollar bond this week, triggering a further downgrade in its rating.
04 Sep 2020 -
Leveraged/non-investment grade
NewOcean to extend payment for 2016 loan
NewOcean Energy Holdings is seeking consent from banks to postpone a principal payment on a $150m loan signed in 2016.
04 Sep 2020 -
IPOs
Golden issuance window could be a phoney war
September began with a bang for equity issuance, capped off on Wednesday by a mammoth €2.7bn share sale from Siemens Healthineers. However, the rush of deals is not just being driven by optimism. Bankers fear darker days returning.
03 Sep 2020 -
Senior Debt
Banco de Sabadell uses green label to print deal through fair value
Banco de Sabadell on Wednesday looked to replicate the success of Mediobanca earlier this week in capitalising on appetite for green bonds. Appetite for the Spanish lender’s inaugural green preferred senior bond led it to print the deal through fair value.
02 Sep 2020 -
Leveraged/non-investment grade
Petron seeks consent for loan amendment
Philippine oil refining and marketing company Petron is seeking lenders’ consent to make amendments to two of its old borrowings, following an initial warning in July.
02 Sep 2020 -
Senior Debt
Mediobanca garners strong support in green debut
Mediobanca was able to attract demand seven times the size of its new €500m senior bond on Tuesday, which was its debut green deal. The high demand allowed the issuer to launch with a negative new issue premium based on its conventional curve.
01 Sep 2020 -
Corp
Modern Land gets big book for $100m green tap
Modern Land (China) Co received an 18 times oversubscribed book for a $100m tap of two of its green bonds, as investors threw their weight behind the Chinese property developer’s deal.
01 Sep 2020 -
The View
Singapore: a case study for Libor transition
Singapore has been a front-runner when it comes to moving away from Libor to a new benchmark, with its regulators, borrowers and banks playing an active role in preparing the market. The rest of Asia’s loan market should pay attention.
01 Sep 2020
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