Asia Pacific

Bankers in China have warned Emerging Markets that much of the debts taken on to fund China’s giant $1.8tr One Belt One Road programme could go bad, threatening another financial crisis

The Western financial system could learn a thing or two about ensuring transparency in the primary debt markets by studying an approach adopted in China, according to the treasurer of the World Bank — while new technologies like blockchain could also help restore trust in the financial system

Deutsche Boerse, together with its Chinese JV partners, is gearing up to launch a new market called "D-shares" that will help to Chinese companies raise equity overseas. The shares will be documented in English, listed in Frankfurt and, crucially, match up to German standards of disclosure and transparency

Auckland Council has selected a pair of banks to arrange a roadshow for a bond denominated in either euros or sterling.

A recent fine by US regulators on the New York branch of Mega International Commercial Bank has led to demands for overseas branches of Taiwanese lenders to collect more comprehensive information about their clients. This is causing fears that the credit approval process for syndicated loans will lengthen, while banks will also find it tricky to lend to smaller borrowers. Shruti Chaturvedi reports.

The Islamic Republic of Pakistan raised $1bn from a five year sukuk at a record low coupon on Wednesday. The deal affirmed the country’s ability to raise funds from international investors, which are growing more confident about its economic prospects.

ASB Bank extended its euro curve with a tightly priced seven year. But with half the demand that was seen in the previous seven year from a New Zealand bank, its size ambition was thwarted.

India’s UPL Corp executed its first dollar-denominated bond on Wednesday, benefiting from a quiet primary market, the strength of its credit and an extensive marketing effort beforehand.

The Philippines is set for one of its largest IPOs this year as Pilipinas Shell Petroleum Corp starts taking orders for a potential Ps19.3bn ($399.0m) listing.

Details about a $350m-$400m financing for private equity firm Permira’s acquisition of corporate services provider Tricor Group have emerged.

After a challenging first half, equity capital markets bankers in Asia can breathe a little easier knowing that momentum from the third quarter will carry on into a busy end to the year. But with macro headwinds such as the US elections looming over markets, issuers will have to remain on their toes, writes John Loh.

Global debt capital markets have seen a total of $5.23tr worth of bonds issued in the first nine months of the year, with the volume for Asia ex-Japan totalling $944bn — the highest for the period since 1995.