Asia Pacific
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Indonesian palm oil seller Royal Industries has failed to repay the first and second installments of a $405m loan raised in 2015, and has now proposed a restructuring. -
China Reinsurance (Group) Corp and China Cinda Asset Management Co ventured out on a busy Thursday with their respective five year prints that saw investors stand firmly by their sides. The two took a combined $3.8bn.
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China Boqi Environmental Co is seeking approval from Hong Kong’s bourse to launch an IPO, according to a filing on Thursday.
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Mongolia has managed to escape from the brink of default with a hugely popular $600m new money plus exchange offering, as investors took heart from the recent bailout from the International Monetary Fund.
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A Singapore-based banker who worked on south and southeast Asian loan syndications for Sumitomo Mitsui Banking Corp has left, according to a source.
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Gome Electrical Appliances Holding opened books for a benchmark-sized Reg S debut trade on Friday morning via sole bookrunner Barclays.
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In this round-up, Hong Kong’s RMB deposits dropped to a near six-year low, the Mutual Recognition of Funds scheme saw meagre flows to Mainland and Hong Kong funds, and the Stock Connect had a surge in net purchases in February. Plus, a recap of our stories this week.
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Corporate treasurers and financial institutions feel that the Panda bond market has great potential as a funding venue, but regulators and industry bodies will need to push for reforms to make it viable.
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Hindalco Industries’ qualified institutional placement, which launched on Thursday night in India to raise up to Rp33.4bn ($500m), is set to price with no discount to the last close, bankers on the deal said.
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