Asia Pacific

The Brexit process and the further opening of the Chinese capital markets are pushing Luxembourg fund managers to sharpen their focus on China, Marc-Andre Bechet, director of legal and tax, Association of the Luxembourg Fund Industry (Alfi), told GlobalRMB.

Law firm Latham & Watkins has strengthened its practice in New York, with the addition of a Mandarin speaking partner to its corporate department and financial institutions group.

The Hong Kong government is eyeing the week of February 20 to issue a new dollar sukuk, providing further momentum to Islamic financing since making its debut in the market more than two years ago.

E-book publisher China Reading and fintech firm Guangdong Wangjin Holdings Technology Co are looking to list in Hong Kong this year, according to sources familiar with their plans.

BNP Paribas got a boost last month when it became just one of four foreign corporate debt underwriters in the China Interbank Bond Market (CIBM). The French lender’s head of global markets for greater China, CG Lai, explained to GlobalRMB that the licence showcased the growing maturity of the onshore market with Panda bonds the key to their plans.

India is aiming for a record Rp725bn ($10.8bn) in divestment proceeds in the new financial year starting April. But it is no secret that these are targets the government is unlikely to meet, with the country having consistently over promised and under delivered. Ambition is admirable, but it is time the government got realistic.

Shanghai Pudong Development Bank (SPDB) worked its magic as the first greater China issuer in the international market after Chinese New Year, pulling in eager investors to grab a tightly priced $500m deal.

Bank of China started taking bids for a triple-tranche dollar offering on Tuesday, while China Construction Bank is looking to return to the euro bond market after a two year hiatus.

CT Corp company, Trans Retail Indonesia, has launched its $575m loan with seven mandated lead arrangers and bookrunners.

Citi has become the first US bank approved to act as a bond settlement agent in the China Interbank Bond Market (CIBM).

Onshore Chinese investors can now buy into Hong Kong IPOs directly if they are acting as cornerstones investors, following a change in regulation by the State Administration of Foreign Exchange (Safe).

Power companies were at the forefront of the international market on Monday, with India’s Neerg Energy and Indonesia’s Bukit Makmur Mandiri Utama launching high yield dollar deals.