Asia Pacific

Fixed income specialist SC Lowy and UOB Asset Management are set to launch a $400m CLO that will consist predominantly of bank loans from Asia Pacific issuers.

Australian utility firm AusNet Services diversified its funding options this week with its first outing in Singapore dollars, printing a S$200m ($142m) hybrid.

A $300m three year loan for Development Bank of the Philippines (DBP) has received commitments from 15 lenders.

The Asian Development Bank (ADB) has backed the issuance of the first climate bond in the Philippines, providing a partial guarantee to AboitizPower Corp’s notes.

Citi has decided to sell its stake in China Guangfa Bank (CGB) in a bid to refocus its resources on other parts of its China business.

A group of 10 banks is in discussions with semiconductor firm Micron Technology for a NT$80bn ($2.5bn) loan to back its acquisition of Taiwan’s Inotera Memories.

Union Medical Healthcare covered the institutional tranche of its HK$951m ($122m) IPO on the first day of bookbuilding, with the deal driven by orders from Asian accounts.

South Korea’s Shinhan Bank has launched a non-deal roadshow in Europe and Asia ahead of its planned debut in the international bank capital market.

With foreign ownership of Chinese bonds still at very low levels, the decision to open China’s interbank bond market (CIBM) could truly alter global investment strategies. But, at least for now, the devil will be in the details, with analysts saying that foreign ownership is unlikely to surge in the short term.

The renminbi held a steady second place as the currency of choice for payments between Malaysia and China and Hong Kong, as the usage of dollar continued to dominate, according to the latest RMB Tracker from Swift.

Maile Carnegie has been appointed to the role of group executive digital banking at Australia and New Zealand Bank, according to a press release.

The Indian government has set its divestment target for the next financial year beginning April at Rp360bn ($5.3bn), cutting its goal for share sales to nearly half of this year’s objective.