Asean

Hong Kong-listed HNA International Investment Holdings has announced plans for a HK$2.97bn ($383m) rights issue that will hit the market in October.

CIMB Thai Bank is gearing up for a Bt3.69bn ($104m) seven-for-40 rights issue that is set to hit the market in October.

The governments of Indonesia and Russia both signalled earlier this week that they are considering issuing renminbi denominated bonds. If the plans go ahead, these will be the third and fourth RMB deals from a foreign sovereign after the UK and Mongolia governments. However, FX volatility means now is not the best time to pull off a RMB deal.

Global equity and debt markets rallied on Tuesday, while volatility subsided, after the People’s Bank of China cut its one year lending rate. But for hard hit emerging markets, more pain could be on the way.

Several former bankers from Royal Bank of Scotland have joined new institutions recently, as the UK firm continues to dismantle a large part of its Asia business.

Szekely departs StanChart HK DCM – CBA boosts Asia loans – Capital Markets Malaysia gains new chief – China Renaissance hires new M&A co-head

Commerzbank has appointed former Royal Bank of Scotland banker David So to its Singapore-based debt origination team.

One of Asia’s most consistent sovereign issuers, the Republic of Indonesia, plans to come to the offshore bond market in the fourth quarter. It is considering offshore renminbi (CNH), dollars, euros or yen, for what would be its last outing this year.

Capital Markets Malaysia, an organisation backed by the country’s government and regulator, has appointed Azhar Zabidi as its chief executive officer.

Frankfurt-listed Snowbird, a Chinese down manufacturer, has cancelled plans to seek a secondary listing in Singapore, amid a wave of panic selling that has gripped stock markets this week.

Westpac has hired a former banker from Royal Bank of Scotland to bolster its Hong Kong-based debt capital markets business.

Green bond issuance in Asia has taken off this year after sluggish growth in the past, according to data by Dealogic.