Asia Pacific

Hemant Sabherwal, a Hong Kong-based director of equity capital markets at Deutsche Bank, has left the German lender.

The Monetary Authority of Singapore sees scope for more clarity on the disclosure of bond rebates given to private banks, with the Private Banking Industry Group reviewing its code of conduct.

The Securities and Futures Commission (SFC) has reprimanded Morgan Stanley Hong Kong Securities over internal control failures, slapping a fine of HK$18.5m ($2.4m) on the US bank.

The launch of China’s cross-border interbank payment system (CIPS) last year was a milestone for the internationalisation of the renminbi. Close to a year on, Bank of China Hong Kong’s general manager for bank-wide operations, Yang Ru Hai, speaks to GlobalRMB on what it takes to improve RMB clearing and what the future holds for clearing banks such as themselves.

The renminbi rejoined the top five of most used payment currencies in the July rankings from Swift, with South Africa seeing considerable growth in renminbi payments in the past year, the organisation said on August 24.

China Orient Asset Management Corp sealed a $650m bond off the back of a $4.2bn order book on Tuesday, taking advantage of a strong market to price its deal well under its peers.

National Australia Bank is seeking the consent of investors to change the terms of four covered bonds denominated in a range of currencies, for which it will pay a fee.

The Hong Kong equity capital market is coming back to life with Jacobson Pharma Corp beginning pre-deal investor education on Wednesday for its up to $150m IPO.

Mizuho has added a new member to its debt syndication team for pan-Asia, with Jennifer Wang starting her new role on Monday.

A S$350m ($259m) loan signed between Lippo Malls Indonesia Retail Trust and a group of lenders is set to go into general syndication.

The Indian government has rejigged the conflict of interest clause in an upcoming request for proposals for sell-downs of companies in the Special Undertaking of Unit Trust of India, according to a source with knowledge of the situation.

Hyundai Capital Services got the timing right on its 144A outing on Tuesday, making an opportunistic move before the markets become crowded with South Korean names. Market participants said HCS’s efforts in putting together its trade paid off, with a win-win outcome for both investors and the issuer.