Asia Pacific

The world remains a divided realm, the chief economist of ratings agency Standard & Poor’s warned, with some countries rising and growing, and others facing years of steady decline

Trafigura’s latest Asian-focused loan syndication has grown in syndication, from $1.4bn to $1.665bn, but is more skewed to shorter maturities and dollar funding than the deal it replaces.

The Vietnamese government has hired Morgan Stanley to lead a 9% divestment of its stake in Vinamilk, the country’s largest dairy company.

A handful of Chinese companies have registered their plans to sell offshore foreign currency bonds with the National Development and Reform Commission, with potential issuers ranging from state-linked entities, government financing vehicles and corporates.

The Chinese Golden Week holidays meant not a lot was going in China, but there was still plenty of renminbi news occurring in the rest of the world. In this round-up, more updates on Shenzhen Connect rules, China-domiciled funds land on Clearstream, and Fred Bergsten says China is not a currency manipulator. Plus, a recap of our coverage this week.

China’s Cofco Meat has begun pre-marketing a potential $300m Hong Kong IPO and is set to open books within two weeks, according to bankers close to the deal.

India’s National Stock Exchange has got the green light from its board of directors to launch its long-awaited IPO in the form of an offer for sale, according to an announcement on its website.

Hong Kong-listed ITC Properties Group became the only international debt issuer from Greater China this week, selling its notes during the country’s week-long national holiday.

Avolon Holdings, indirectly owned by China’s HNA Group, has tapped Morgan Stanley and UBS to provide $8.5bn of debt for the acquisition of the aircraft leasing business of CIT Group.

Investors are looking past China Industrial Securities International Financial Group’s status as a Growth Enterprise Market listing, with books building strongly for the HK$1.39bn ($179m) Hong Kong IPO.

The entry of the renminbi into the IMF special drawing rights (SDR) on October 1 is stirring up debate for a revised role of the SDR, with some suggesting reform of the currency unit could lead to a more stable international monetary system.

Eisuke Sakakibara, the former Japanese politician who earned the nickname Mr Yen for his aggressive control of the exchange rate, says he is worried that the appreciation of the yen is a sign that the impacts of the expansionary policies known as Abenomics are wearing off