Asia Pacific
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In this round-up, Chinese regulators have further delayed any expansion of the qualified domestic institutional investor, Vanguard has completed its transition to a FTSE index that includes A-shares, and Malaysia’s new payment system adds support for RMB debt securities. Plus, a recap of GlobalRMB’s coverage this week. -
One of the biggest Chinese bad debt managers, China Cinda Asset Management, is set for a dollar-denominated Reg S additional tier one deal, marking the country’s first AT1 from a non-bank entity.
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China South City Holdings (CSC) is tapping its $200m five non call three notes, sold at the start of September, launching the new transaction on Friday morning.
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Hong Kong-listed Television Broadcasts (TVB) is set to connect with bond investors for a debut dollar transaction.
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Korea Housing Finance Corp and Cariparma Crédit Agricole have hired lead managers to arrange investor meetings, with a view to issuing covered bonds in dollars and euros, respectively.
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The Bank of Queensland’s (BoQ) upcoming conditional pass through (CPT) covered bond, the first CPT from an Australian issuer, will mark a major step in the use of the structure, with cross-currency swaps used for the first time.
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Blockchain came sharply into focus this week for the derivatives market, as industry bodies warned on both the need for such technology and to regulate its use. Meanwhile, firms rolled out a range of new initiatives to address the market’s mounting challenges around margin and settlements.
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South Korea’s Woori Bank printed a $500m Basel III additional tier one on Tuesday off the back of a modest $850m order book. The notes struggled a little in secondary the following day before rebounding on Thursday, putting the focus on the transaction’s pricing and timing, writes Addison Gong.
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Banks are queueing to set up shop in an international financial services hub in India — the first of its kind in the country. Institutions operating there enjoy certain regulatory exemptions, which are expected to give a leg-up to domestic lenders looking to build a foreign currency loan book. Shruti Chaturvedi reports.
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Korea Housing Finance Corp and Cariparma Crédit Agricole have hired lead managers to arrange investor meetings, with a view to issuing covered bonds in dollars and euros, respectively.
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India’s debut IPO from the insurance sector has priced at the top of its range, with ICICI Prudential Life Insurance Co raising Rp60.6bn ($904.8m) as demand exceeded supply by almost 11x.
