Asia Pacific

Standard Chartered is giving a shot in the arm to its credit business, with new hires in Singapore, Hong Kong, London and New York, according to a Tuesday press release.

Sumitomo Mitsui Financial Group and Bank of Taiwan have inked a memorandum of understanding to collaborate on asset finance, and to provide support to Taiwanese companies operating in ASEAN.

CK Hutchison Holdings is making a rapid return to the dollar market, collecting bids for a subordinated perpetual bond on Tuesday, its first hybrid outing after a 2015 restructuring.

A default event has been declared on a $222m loan for Indonesian gas-to-power specialist MAXpower Group. The company first flagged up its financial problems over a year ago and had been speaking with lenders to rejig terms on the five year syndication sealed in 2015.

Dongfeng Nissan Auto Finance priced its Rmb4bn ($580.59m) VINZ 2017-1 Retail Auto Loan Securitization on Thursday last week — the originator’s fifth in China.

Indonesian automobile finance company Mandiri Tunas Finance (MTF) has hit the offshore syndicated loan market for a $100m borrowing.

Infrastructure financing in Asia, which is typically funded by bank loans, is set to see bond issuance playing a bigger role as projects reach operational, or brownfield, level and loans come up for refinancing, according to market watchers.

The Panda bond market is set for a surge as more global companies look to boost their presence in China, according to a senior capital markets banker working with the asset class.

Books for Bright Scholar Education Holdings’ $150m IPO in the US were covered as of Monday, according to bankers arranging the deal.

Canadian investors may gain a direct route into China’s interbank bond market thanks to a collaboration between TMX Group and Shanghai Clearing House (SHCH) that is set to kick off by the last quarter of the year, TMX's Brian Gelfand told GlobalRMB.

Anand Bangur has been named head of the Asia Pacific corporate finance division at First Abu Dhabi Bank (FAB), the entity born from the merger of First Gulf Bank and National Bank of Abu Dhabi.

Landesbank Baden-Württemberg (LBBW) has become the latest bank from Europe to sell a Singapore dollar-denominated bank capital deal. Its Basel III tier two was 5.5x covered, and like its peers, the issuer managed to save on funding costs compared to its home currency, reckon bankers.