Asia Pacific

BNP Paribas is shaking up its equity-linked unit in Asia with the transfer of a senior banker to Singapore and a new hire, sources close to the matter said.

China’s ability to lock in a $2bn tightly priced bond sale last week after a 13 year hiatus from the market comes as little surprise. But the price that China received, and the statements it made with the sale are worth talking about. This triumphant dollar bond return not only squeezed bond prices to new lows, but it also allowed China to prove that it does not need foreign investors — it wants them.

Many international investors are refraining from participating in Bond Connect because they still have little clue on how their investments will be taxed, as well as hoping for more institutions to offer FX liquidity to the scheme, according to market participants.

Ananth Ramachandran has officially been made the head of corporate and institutional banking (CIB) for Asia at Westpac, after acting as the interim head for months.

China Huarong Asset Management Co priced an almost $3.4bn five tranche bond in two currencies on Tuesday, restarting supply from Chinese financial institutions after the sovereign repriced the curve last week.

Cathay United Bank has named a replacement for Benjamin Wong following the senior loans banker’s exit from the Taiwanese lender’s Hong Kong branch after less than a year.

Industrial and Commercial Bank of China is marketing a dollar bond deal spanning three tranches through its New York branch.

The government-backed New India Assurance Co (NIA) has launched a three day bookbuild for its IPO, which could raise up to Rp96bn ($1.5bn).

Hong Kong property developer CNQC International Holdings pulled off a S$100m ($73.4m) bond sale on Tuesday, following a booming first half of the year for the company.

Standard Chartered has made changes to its top ranks in Asia, giving some bankers additional responsibilities.

China Minmetals Corporation, a state-owned enterprise, turned to bond investors on Wednesday with its first dollar perpetual bond, quickly following up a roadshow earlier this week.

Korea National Oil Corp’s (KNOC) Canadian arm returned to the dollar debt market on Wednesday, eyeing a $200m tap to its existing $285m 2022 bonds.