Asia Pacific

Xinte Energy Co has opened books for one of Hong Kong’s last IPOs of the year, with a little over half of the HK$1.36bn ($175.4m) listing covered by cornerstone demand.

The China Foreign Exchange Trade System (CFETS) published details of an exchange rate index for the renminbi for the first time on December 11. The index is based on a basket of 13 currencies, including the dollar, euro and yen.

Deutsche Bank has appointed Simon Roue to the new position of head of DCM for Asia Pacific.

A $200m equivalent borrowing for Yue Xiu Enterprises has been launched into syndication with one bank at the helm.

Indian hospital chain Narayana Hrudayalaya launched bookbuilding for its Rp6.13bn ($92m) IPO on Thursday, bagging the Singapore sovereign among its anchor investors.

Chinese technology firm Tencent Holdings has closed its borrowing at $2.45bn, nearly double the original launch size.

The US Federal Open Market Committee (FOMC) raised federal funds rate for the first time since the financial crisis, opting for a 25bp increase. The move had been widely expected, but analysts are expecting a degree of volatility, at least in the offshore RMB (CNH) markets.

Tata Motors has allocated its $600m dual-tranche refinancing among a group of 36 banks. The company split the amount evenly between a five year and a seven year despite the longer tenor seeing a higher volume of commitments.

Alkem Laboratories has priced its Rp13.5bn ($202.1m) IPO at the top end of its range, following a burst of demand for the Indian healthcare sector in the past month.

After a subdued year, Korean borrowers are gearing up for a busy 2016 buoyed by a credit rating boost from Standard & Poor’s, which made the country fully double A for the first time in its history. But will issuers be able to capture the lower yields they crave in the face of mounting global macro-economic pressures? Narae Kim finds out.

A spate of aggressively structured acquisition loans arranged by Chinese banks, dubbed ‘Chinese TLB’ sent ripples through the syndicated loan market this year. Foreign banks, unable to match terms offered by their Chinese counterparts, are having to deal with shrinking opportunities to finance offshore Chinese M&A, writes Shruti Chaturvedi.

China’s equity markets crashed spectacularly in the middle of the year after an impressive rally, before rebounding again in the last quarter. With the dust now settled, bankers reckon 2016 will be a bumpy but easier year to navigate. Rashmi Kumar reports.