Asia Pacific

Mayer Brown JSM has given a boost to its Hong Kong team by hiring a new partner experienced in IPOs and other areas of corporate finance.

5y CNY swaps have been well offered as Chinese equities continue their sell-off. In the short-end though, 1y swaps have been bid on concerns about the yuan. In Hong Kong today HIBOR spiked sharply on CNH liquidity tightness spurred by reports of indirect PBOC intervention, writes Deidre Yeung.

Bank Julius Baer has made senior changes to its southeast Asia business, creating the role of vice-chairman as well as appointing a new head of private banking.

Citi has created a consolidated Asia Pacific debt syndicate team as it seeks to take advantage of the growing relevance of local currency markets, according to an internal memo seen by GlobalCapital Asia.

Tata Motors has made a rapid return to the international loan market for a refinancing worth $250m, launching the deal just a few weeks after signing a $600m fundraising.

China’s reopened Panda bond market is continuing to gather momentum with the first issues from two offshore listed companies. The deals are the first Pandas sold into the country’s exchange bond market and mark a new issuer frontier for the product.

China’s attempts to allow markets forces to play a bigger role in the currency seemed to have backfired this week with both the onshore RMB (CNY) and its offshore (CNH) counterpart experiencing a tumultuous ride. Further depreciation is expected but the big unknown remains how policy makers will act.

India’s IDBI Bank has named a group of seven banks to manage a qualified institutional placement, according to a source involved in the transaction.

Three managing directors in the investment bank of Malaysia’s CIMB are understood to have left to join corporate finance outfit ZJ advisory, a source close to the moves said.

Jiangsu Hansoh Pharmaceutical Co and Simcere Pharmaceutical Group are looking to raise a combined $2.5bn from Hong Kong IPOs that could launch in the first half of 2016.

A $300m dual-tranche borrowing for a subsidiary of palm oil producer Golden-Agri Resources has launched into syndication. The money was funded by four banks in mid-2015.

Jabez Private Equity Fund I offloaded the remainder of its holdings in South Korea’s Hyundai Securities Co on Thursday, fetching W115bn ($96m) from the fixed price offering.