Bonds
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‘Pooled bond’ brings foreign investor to Indian NBFCs
Spanish impact fund Magallanes Impacto and India’s Northern Arc Capital’s joint investment in a Rp1.06bn ($15m) ‘pooled bond’ transaction highlighted foreign investors’ interests in India’s non-banking financial companies (NBFCs), as cash-strapped lenders look for alternative sources of funding. Addison Gong reports.
- Chinese duo keep Asian primary bond market alive
- Supras push back on China oversight of Panda bonds
- HSBC’s Tucker and Stevenson ramp up the pressure
- India’s Greenko finds window for quick bond sale
Equities
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Temasek trims Intouch stake with jumbo Thai block trade
Thailand’s largest block trade in six years has seen Singaporean state-owned investment fund Temasek Holdings bagging more than $500m from a sale of Intouch Holdings stock. The vendor took advantage of a surge in the Intouch’s stock price and plans to return and clean up its remaining stake. Jonathan Breen reports.
- Yes Bank pockets Rp19bn from QIP
- India seeks bookrunner bids for Fagmil, TCIL divestments
- Asia people news in brief: August 15, 2019
- ECM settles in for long trade war despite tariff delays
Loans
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MGM China joins the trend of casinos seeking unsecured loans to take out old borrowings
Macau casino operator MGM China has raised its first unsecured borrowing, joining a handful of companies raising straight loans to replace outstanding secured facilities. Bankers think that plenty more casinos will take a punt on the format. Pan Yue reports.
- HDFC makes quick return for $200m
- China banks in CEE upset trad lenders
- Asia people news in brief: August 15, 2019
- Chinasoft launches HK$1bn loan into general
People & Markets
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HSBC’s Tucker and Stevenson ramp up the pressure
HSBC’s chief executive was dislodged by the force of the challenges facing the bank. Now, its global markets division is under pressure as senior management continues with reform, writes David Rothnie.
RMB
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China market round-up: July credit growth below expectations, industrial production dips, HK bourse posts half-year results
In this round-up, China’s money and credit growth disappointed, industrial production growth plunged and Hong Kong Stock Exchange posted lower trading fees but higher listing fees for July.
Comment
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China’s research clampdown: a step in the wrong direction
China’s securities firms are about to be subject to an alarming rule that will limit their capacity to provide independent research. The decision to grade firms on their ability to manage the reputation of China and guide public opinion is a big step back for the country’s financial system.
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A real summer break will do Asian bond market good
Volatility has hurt secondary spreads and primary deal flow in the Asian bond market but really it is no bad thing. A quiet month is just what the market needs after an overwhelming amount of supply so far this year.
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In calling China a 'currency manipulator,' the US plays its Trump card
The US finally labelled China a currency manipulator this week, a day after the renminbi weakened to below the psychological level of seven against the dollar. With China clearly indicating its willingness to open a new front in the trade war, the stage is set for an increase in rhetoric between the two countries.
Asia Securitization
More from Asia
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Bank Profiles
Latest news by market and league table performance
Panda Bonds Top Arrangers
| Rank | Arranger | Share % by Volume |
|---|---|---|
|
||
| 1 | Bank of China (BOC) | 19.93 |
| 2 | Industrial and Commercial Bank of China (ICBC) | 13.40 |
| 3 | China Merchants Securities Co | 12.94 |
| 4 | Agricultural Bank of China (ABC) | 7.84 |
| 5 | China Securities | 6.54 |
Bookrunners of Asia-Pac (ex-Japan) ECM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | CITIC Securities | 9,784.84 | 51 | 7.39% |
| 2 | Goldman Sachs | 8,917.01 | 37 | 6.73% |
| 3 | Morgan Stanley | 8,062.73 | 52 | 6.09% |
| 4 | China International Capital Corp Ltd | 7,479.26 | 47 | 5.65% |
| 5 | UBS | 7,365.18 | 51 | 5.56% |
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 22,810.26 | 200 | 8.33% |
| 2 | Citi | 17,061.26 | 128 | 6.23% |
| 3 | JPMorgan | 14,213.30 | 96 | 5.19% |
| 4 | Standard Chartered Bank | 12,123.46 | 119 | 4.43% |
| 5 | Bank of America Merrill Lynch | 10,117.96 | 78 | 3.70% |
Asian polls & awards
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GlobalCapital reveals SRI Award nominations
GlobalCapital has published the nominations for its Sustainable and Responsible Capital Markets Awards. The winners will be announced on September 17, at our Awards Ceremony in Amsterdam.
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GlobalCapital SRI Awards: poll extended
In response to requests from market participants, GlobalCapital has extended the closing date of its poll to determine the 2019 winners of its Sustainable and Responsible Capital Markets Awards. Market participants can now vote until July 26.
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GlobalCapital opens 2019 poll for SRI Awards
GlobalCapital has launched its poll to determine the 2019 winners of its Sustainable and Responsible Capital Markets Awards. Market participants are invited to participate.
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GlobalCapital launches Sustainable Financing and Investing Survey
GlobalCapital is conducting a global research survey on the fast-changing markets for sustainable financing and investing. It will combine the views of issuers and investors to give a nuanced picture of how this trend is changing capital markets for both groups.
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GlobalCapital Asia capital markets awards 2018: Investment banks
In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out the Best Asian Investment Bank and the Best Investment Bank in the region for 2018.
