Asia Pacific

One of the perks of working for a global bank is the possibility of a transfer to an office in a different country. A friend of mine recently had the good fortune, so it seemed, to move to the US. But alas, events conspired against him.

Chinese data firm GDS Holdings has begun pre-marketing its $300m US listing with bookbuilding expected in the next two weeks. Logistics company ZTO Express has also chosen to float in the US.

For the nine months through September, Morgan Stanley topped the Asia ex-Japan ex-onshore China ECM bookrunning league table with $9.41bn in deals, according to Dealogic. It was also the only bank with double-digit market share.

A report from American think tank Atlantic Council is calling for China and Latin America to take better advantage of their trading links and improve the usage of renminbi on the continent.

Export-Import Bank of Malaysia, which has doubled the size of its multi-currency medium term note programme to $3bn, is preparing to hit the road for a dollar deal.

China Aoyuan Property has mandated banks to organise fixed income investor meetings to update the market on recent news about its credit.

The true rate of non-performing loans held by China’s 4,000 banks is much higher than the official 1.75%, according to leading economists who warn that the country faces the threat of a major debt crisis

Kazakhstan is looking to lure foreign capital to offset the impact of falling commodity prices and low growth. The flotation of Air Astana for up to $1bn may attract investors who have steered clear of the central Asia economy

Lenders have put together a financing package of $550m to back MBK Partners and TPG’s joint acquisition of Wharf T&T from Wharf Holdings.

Doosan Bobcat is guiding investors for its W2.4tr ($2.2bn) IPO in South Korea to a price that is 15% below the bottom of the marketing range, according to bankers close to the trade.

A $180m financing for Indonesian tanker company Soechi Lines has been opened to a wider group of banks, with a roadshow scheduled in Taiwan this week.

Automotive component manufacturer Endurance Technologies has opened books for its Rp11.6bn ($173.4m) IPO in India on solid footing, raking in orders from 24 anchor investors.