Asia Pacific

China's transition from an investment to a consumption economy is moving forward, but GDP growth concerns are likely to delay the country’s reform agenda.

Indonesian company Sarana Multi Infrastruktur has approached retail participants for a $175m bullet loan to refinance debt.

Citi has promoted Christine Lam to the role of country head for China, where she will oversee all of the bank’s businesses and franchise operations in the country.

Crédit Agricole has issued year’s first Formosa bond, which is also the first renminbi transaction to be sold in Taiwan since last August.

Law firm Clifford Chance has made several senior appointments in Asia Pacific in a bid to strengthen its businesses in the region.

The Asia Pacific loan syndicate team at Société Générale is seeing changes at the top with the current head of the division relocating to Europe.

Citi launched a five year Kangaroo bond on Tuesday, tapping into a recent bid from Asian investors itching for yield.

Veteran Citi India banker K Balasubramanian is due to leave the firm to head the corporate banking department at HDFC Bank, according to sources.

South Korea’s Kakao Corp has broken a drought in Asia’s equity-linked market by printing a W230bn ($199.9m) exchangeable bond on Monday, with the deal denominated in won but settled in dollars.

The limited syndication process for a multi-currency financing for affiliates of Sino Horizon has begun with one bank at the helm.

Yadea Group Holdings has flagged off pre-marketing for its $200m-$250m IPO in Hong Kong, as it looks to open books by the middle of next week, according to sources close to the deal.

South Korea’s regulators are widely expected to adopt new rules that force banks to sell perpetual additional tier one bonds, something that was prohibited until now. The move will push lenders to execute more expensive offshore capital raising and while the shift will improve the soundness of Korea’s banking system, it will take the market time to adjust to the new regime.