Asia Pacific

The Chinese authorities have given their cross-border interbank payment system (CIPS) an even more central role in the global renminbi infrastructure, announcing that two domestic clearing houses have become direct participants of the platform to help settle Bond Connect trades.

Standard Chartered has appointed a former Deutsche Bank banker as its new global head of financial markets sales, effective next Monday.

Credit Suisse has hired a banker for its Asia Pacific loan syndications team in Hong Kong.

The launch of Bond Connect and MSCI’s A-share inclusion are prompting global investors to rebalance their portfolios towards renminbi bonds and equities. But although investors enjoy a handful of hedging tools in fixed income, they are hoping for more equity derivatives before adding A-share exposure.

Lotte Chemical Titan sealed the largest Malaysian IPO in nearly five years this week, raising MR3.8bn ($884.0m). But the deal was anything but pretty. After a bungled first attempt at building a book, the issuer was forced to return with a smaller offering and lower price range. Jonathan Breen and John Loh report.

Au Small Finance Bank’s IPO in India raised Rp19.1bn ($294.5m) for the selling shareholders after it was priced at the top of the range.

Posco has launched a block sale of KB Financial Group's shares, and is looking to raise up to W443.5bn ($383.0m), according to a term sheet for the deal.

Chinese investment banks and brokerages had a dazzling performance in Asian DCM during the first half, remaining the preferred choice for the country’s offshore issuers while also making big leaps in boosting their international client base. With their rise have also come increasing concerns around best market practices – but even these may soon be a thing of the past. Addison Gong reports.

Chinese regulators opened the door to foreign bond investors this week, launching a Bond Connect scheme that offers unfettered access to onshore renminbi bonds. The scheme promises to be a game-changer for global investors — as long as China does not rest on its laurels. Paolo Danese and Morgan Davis report.

Fears over debt and governance problems at Chinese companies are prompting banks to rethink their willingness to lend. The pull-back is leading to a push for more transparency — and looks set to send margins on many deals higher, bankers said this week.

DBS launched syndication for a HK$1.2bn ($153.7m) borrowing by photovoltaic power plant developer Beijing Enterprises Clean Energy last week.

ABN Amro Bank returned to the dollar Formosa market on Wednesday at the prompting of Taiwanese investors, raising $450m from its deal.