Asia Pacific

Renminbi globalisation has been successful so far, but now the low-hanging fruit has been picked, Chinese authorities will struggle to push through the next round of reforms, according to Eswar Prasad, professor at Cornell University and senior fellow at the Brookings Institution.

Investment grade corporate issuers hit the euro bond markets in force on Tuesday with five primary transactions in play, but defensive deal sizes characterised the frantic flow.

It has been three years since China launched the landmark Shanghai Free Trade Zone with the area originally envisioned as the blueprint for further reforms throughout the country. While market participants are disappointed by the authorities’ continued grip on capital controls, they are happy with the overall direction of the FTZ scheme.

Vietnam’s equity capital markets is peculiar in that doing an IPO and listings are viewed as two separate events, leading to companies, particularly state-owned ones, often being in no hurry to start trading their shares on the stock exchanges. There’s no simple solution, but a shake-up of the market is well overdue.

Fullerton Healthcare Corp has wrapped up its Singapore listing at the bottom of guidance, valuing the deal at S$213.3m ($154.7m).

South Korea’s KEB Hana Bank has received positive feedback from investors for its dual-tranche 144A/Reg S trade, launched on Tuesday morning.

Former UBS veteran Honggui Li has joined Credit Suisse as managing director and head of investment banking and capital markets, China, effective immediately, according to a memo seen by GlobalCapital Asia.

China Resources Pharmaceutical Group will raise as much as HK$15.6bn ($2.0bn) via a Hong Kong IPO after firming up the price range.

Gas Authority of India (GAIL) has rolled a $300m refinancing into general syndication through three mandated lead arrangers and bookrunners.

Abu Dhabi Commercial Bank (ADCB), which is seeking a $300m loan from Asian lenders, is offering four participation tickets with details on the levels now available.

South Korea's Hyundai Capital Services is set to meet international fixed income investors starting Monday next week.

Chinese local government financing vehicles Huai’an Traffic Holding and Jiangsu Zhongguancun Science Park Holding Group are hitting the road this week ahead of their first dollar offerings.