Asia Pacific

An executive director who quit the loans syndicate and distribution team of Standard Chartered in April, has joined UBS.

While opinions range on how appropriate it will be for MSCI to go ahead with the inclusion of A-shares into its global benchmarks, the index provider has been giving greater space to US-listed Chinese stocks. But despite the decision on A-shares being just over a week away, market participants are still weighing the pros and cons.

Tianjin Infrastructure Construction (TJII), China State Construction Engineering Corporation Limited and ICBC’s Dubai branch are out in the dollar bond market on Tuesday with their respective fundraisings.

China Renaissance has hired Yang Xia as managing director and global head of equities based in Hong Kong.

Singapore's sovereign investment arm Temasek Holdings is making headlines in the capital markets once again, gauging investor demand for its $1.1bn Astrea III securitization. Not only is this one of the rare internationally marketed securitizations out of Asia, it is also one of the very few globally to be backed with cashflows generated by private equity funds.

The successful distribution of a jumbo loan for ChemChina’s acquisition of Syngenta shows that Chinese banks have learned quickly from past mistakes. And as the trend of Chinese companies snapping up prized assets overseas intensifies, they will only get better at arranging large, complex deals.

ABC Financial Leasing has picked banks as it gets ready for a dollar appearance as early as next week.

China’s curb on capital outflows means the Panda bond market is yet to live up to the excitement generated by a series of high profile transactions last year. But György Barcza, CEO of the Hungary Government Debt Management Agency, is committed to pushing out a transaction even if the ability to repatriate proceeds offshore remains uncertain. Rev Hui reports.

The China Foreign Exchange Trade System (CFETS), managed by the People’s Bank of China (PBoC), signed a $65m agreement with FX and fixed income trading platform provider ICAP to develop the next generation of its core trading systems.

CNY swaps have been better offered across the curve today as corrective strength in the yuan supports the shorter maturities while Friday's weak US non-farm payrolls report is supporting the long-end. 1s/10s NDIRS is flatter on long-end outperformance. Data and holidays are to come later this week, writes Deirdre Yeung.

Hotel Lotte Co has delayed the launch of its IPO, which could raise W5.7tr ($4.9bn), as it needs to file more documentation for the deal, it said on Friday — but the setback came just after the issuer’s offices were raided last week on accusations of bribery, according to sources close to the situation.

Pakistan’s Engro Corp is selling down its stake in Engro Fertilizers worth some Prp22.04bn ($210m) in a private bookbuilding exercise with local and international investors, said a source close to the trade.