Asia Pacific

Citi and ING have named new heads for their respective Asia debt syndicate teams, while Natixis has recruited a DCM banker from Commerzbank.

BAML loses Hong Kong IB chief to UBS — UBS hires from Deutsche for M&A — ANZ appointments — SGX names head of fixed income sales

Credit Suisse has lowered profit targets for its Asia Pacific division amid a slump in volumes and capital markets activity, the bank said at its investor day this week.

China Minsheng Banking Corp grabbed the market’s attention on Wednesday, raising the maximum amount it had approval for with its debut additional tier one note, and getting away with little new issue premium.

The syndicate that supplied a $405m loan on which Royal Industries defaulted, is waiting for one last bank’s go-ahead for the borrower’s waiver request. All lenders must sign off the changes before they can be implemented.

The Shanghai Municipal government priced the first free trade zone (FTZ) bond on Thursday, marking the launch of a third bond market in China.

Country Garden Holdings priced a 10 year bond on Wednesday, having pulling an earlier attempt at a deal in November. While the market remains challenging, the issue was backed by anchor orders as the leads left little to chance this time.

Malaysia’s MRCB-Quill Reit has raised MR487.9m ($110.1m) from a follow-on placement, executed during lunchtime on Thursday.

It’s well known that bankers can be a boozy lot, be it when they are schmoozing clients or when simply letting off steam after pulling an all-nighter. But fund managers are no better, if one friend’s firm is anything to go by — it almost seems to encourage such behaviour.

VietJet Aviation is set to seal Vietnam’s largest domestic IPO as it heads towards the end of its management roadshow. It is giving international investors a rare opportunity to buy stock thanks to its decision to use a Reg S structure, with more privately-owned companies expected to follow suit. Jonathan Breen reports.

The Chinese Ministry of Finance completed its second biannual offshore RMB (CNH) auction of the year in Hong Kong, which saw modest demand despite the solid premium over onshore Chinese government bond yields.

China has been tightening capital controls as it faces continued outflows and currency depreciation. The result is likely to be a change of focus for the RMB internationalisation (RMBi) process to areas such as the Belt and Road initiative, according to Bank of America Merrill Lynch.