Asia Pacific

Indian start-ups are set to receive a boost as the country’s market regulator has proposed a series of changes to improve the process of raising funds on the institutional trading platform (ITP).

Joseph Chee will head UBS’s Asia investment banking unit after co-head Saurabh Beniwal leaves at the end of the year, according to sources close to the move.

Two Hong Kong issuers hit the dollar debt market on Monday, with CSI Properties launching a new five year bond, while Hong Kong Airlines re-opened its existing notes, driven by reverse enquiry.

The list of companies issuing Panda bonds in China’s exchange market continues to grow with a pair of red chip names, Agile Property Holdings and China Everbright, raising a combined Rmb7bn ($1.05bn).

Haitong Securities is gearing up to pitch an international fundraising plan to its shareholders, as it seeks funds for its operations, improve its debt structure and supplement working capital.

Weak Chinese manufacturing data and a stronger yuan have steepened the CNY rates curve. RRR cut bets have helped the 2-year sector outperform. Sources see scope for further steepening across the 2s/10s slope, writes Deirdre Yeung of Total Derivatives.

Everbright Securities kicked off pre-deal investor education on Monday for its over $1bn IPO in Hong Kong, with the recent recovery in markets expected to bolster demand for the transaction.

The Reserve Bank of New Zealand (RBNZ) has set out new proposals aimed at cooling house price inflation, which it says has become increasingly disconnected from household incomes.

Adani Transmission’s maiden $500m bond saw overwhelming demand of more than $5bn on Thursday as the issuer left plenty of money on the table for investors — which was reflected in secondary with the notes tightening 20bp.

Sunshine 100 China Holdings hauled a $200m convertible bond over the line on July 28, enticing investors with one of the highest yields on equity-linked debt in the region this year.

A single Chinese lender will help fund a take private of Hong Kong-listed Peak Sport Products, according to an exchange filing.

NTPC is gearing up for India’s first offshore rupee-denominated green bond, having hired four banks to handle what could be a landmark offering.