Asia Pacific
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Preparations for the Shenzhen-Hong Kong Stock Connect are in full swing as the Hong Kong and Shenzhen stock exchanges embark on international roadshows ahead of its expected November launch. -
Pilipinas Shell Petroleum Corp has clinched a Ps18.4bn ($380.6m) IPO after robust demand meant the leads had tough time during an allocation process that saw plenty of investors scaled back.
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Asia is gearing up for a bumper week of IPOs, with two $2bn deals launching on Monday and other smaller-sized floats vying for investor attention in what has been an action-packed October.
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Hong Kong Broadband Network has returned to the market after just seven months to refinance its outstanding loans. The steady downtrend in pricing for high grade borrowers prompted the move.
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Standard Chartered Bank (Hong Kong) has obtained approval from the People’s Bank of China (PBoC) to become the first commercial issuer of bonds denominated in Special Drawing Rights (SDR) in the country’s interbank bond market.
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Australia sold its largest ever bond in its longest ever maturity on Wednesday. Overseas investors swarmed towards the sovereign’s high yielding offer.
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Goodman European partnership, the Luxembourg property vehicle managed by Australian Goodman Group, was alone in the euro market on Thursday with a dual tranche sub benchmark trade.
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With one quarter of 2016 left to go and global issuance 22% down, the equity capital markets bookrunner race is going into its final straight. Familiar faces are leading the pack, but incumbents in general are having a tough year.
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Hong Kong-listed company Li & Fung has established a $2bn medium term note and perpetual securities programme, appointing Citi and HSBC as arrangers.
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Malaysia’s Tenaga Nasional sold its first dollar sukuk on Wednesday, attracting $2bn of bids as investors shrugged off concerns around the country. While participants said that that the sukuk market has always been open for borrowers, they are hoping that the power company’s deal will fuel more issuance. Addison Gong reports.
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The Green Climate Fund, set up by the United Nations as a channel for money to help developing countries fight and cope with climate change, has chosen a new executive director.
