Asia Pacific

HSBC has elevated 14 Asia-based staff from its global banking and markets (GBM) division to managing director, part of a global round of promotions, according to an internal memo seen by GlobalCapital Asia.

Thailand’s ECM market is heating up with yet another IPO set to launch this week, as WHA Utilities and Power starts bookbuilding on Tuesday.

China Evergrande Group dashed into the market last Friday, securing a $1.5bn deal across two tranches before investors shut down for the weekend.

The China Banking Regulatory Commission (CBRC) has taken a further step towards opening up the country’s financial sector, allowing foreign and joint venture banks to invest in domestic banking financial institutions.

Two senior executives at Morgan Stanley in Asia Pacific have recently resigned from the US bank, according to sources close to the matter.

Oil products storage and distribution firm Puma Energy is back in the loan market for a two-pronged $570m financing, to extend as well as replace some of its existing debt.

Min Xin Holdings is looking to raise HK$827m ($107m) via a rights issue to pay down bank borrowings, according to a filing made after markets closed last Friday.

Philippines’ Petron Corp is tapping the syndications market for $600m to partly refinance a term loan due next year, as well as some peso-denominated notes.

Korea National Oil Corp (KNOC) is selling a combination of floating and fixed rate bonds, with price thoughts for a five and a 10 year released at the same level. On the high yield side, China’s Shandong Yuhuang Chemical Co is marketing its debut three year notes.

South Korean game developer Netmarble Games has started pre-deal investor education for its up to W2.7tr ($2.4bn) IPO, according to bankers working on the transaction.

Pre-marketing for Asian IPOs picked up in earnest on Monday, with Guotai Junan Securities Co’s $2bn listing in Hong Kong among those vying for investor attention.

Indonesian company Sri Rejeki Isman (Sritex) is readying a seven non call four dollar note, announcing the deal on the back of strong growth in 2016.