Asia Pacific

Chinese local government financing vehicle Jiangsu Hanrui Investment Holdings tapped its outstanding 2019s last Friday in the post US-election market, raising $190m on the back of reverse enquiry.

Metals producer Hindalco Industries, a unit of Indian conglomerate Aditya Birla Group, is planning to raise Rp50bn ($738.0m) in fresh funds, according to a stock exchange filing.

South Korea’s Shinhan Bank is gauging investor interest for a dollar tier two subordinated bond, its second since it debuted in the bank capital market in March.

US based-Novelis, part of Indian company Aditya Birla Group, has decided to access the Asian syndicated loan market following discussions lasting several months.

UBS is rejigging its Hong Kong-based corporate finance group (CFG) and its team of junior China-focused country bankers, affecting about 20 staff.

In this new Monday round-up from GlobalRMB, we bring you a collection of market and regulatory developments from the weekend as well as provide a preview of upcoming events this week.

The London RMB hub has been under threat from the Brexit vote, but China seems keen not to jump ship yet. The latest round of meetings have yielded a commitment to launching the long-promised London-Shanghai Stock Connect, the UK Treasury said on November 10.

Chinese local government financing vehicle Gansu Provincial Highway Aviation Tourism raised $500m on Thursday in the nearly silent, post-US election DCM market in Asia.

Adani Ports and Special Economic Zone, one of India’s largest port operators, is planning a comeback to the international bond market after more than a year.

Indonesia’s Sinar Mas Group is planning to float its power assets on the Singapore Exchange (SGX) through a potential $800m IPO, according to a source familiar with the matter.

Hindalco Industries, the flagship metals arm of Indian conglomerate Aditya Birla Group, said it is considering an equity raise that will be the company’s first in seven years, as its shares trade near highs not seen since August 2014.

Banks are yet to reach a unanimous decision on relaxations sought by Royal Industries Indonesia, which defaulted on the first principal repayment of a dual tranche loan signed in 2015. All lenders have to grant approval for the changes to be implemented.