Asia Pacific

Santander UK has beaten a path that could be well trodden by European banks in the next two years, printing a holdco senior unsecured deal in the Tokyo Pro-Bond market as it looks to broaden its investor base for issuing loss absorbing debt.

Westpac was set to print its second foreign currency deal in as many days on Tuesday, but some bankers said the borrower ran into difficulties in euros.

Kazmunaigas (KMG) is repurchasing $3.4bn of bonds across its outstanding 2043s, 2044s, 2023s, 2025s, 2020s and 2021s.

New rules on Indian offshore borrowings have dismayed local bankers as it bans them from participating in offshore deals for non-bank financial corporations and firms that support infrastructure — the bread and butter of their loans business. But the changes are not a bad thing and will shake Indian lenders out of their complacency.

The Singapore Exchange is closing the year with some hope thanks to BHG Retail Real Estate Investment Trust (Reit), which has raised S$255.8m ($181m) from the country’s first mainboard IPO of the year.

A pair of Indian healthcare companies, Alkem Laboratories and Dr Lal Pathlabs, launched their respective IPOs on Tuesday and have already managed to attract plenty of investor interest.

Huishang Bank Corp has come a step closer to launching its H-share private placement in Hong Kong, after the China Securities Regulatory Commission (CSRC) approved the sale on Monday.

American International Group raised HK$5.83bn ($752.26m) from an overnight share sale in PICC Property and Casualty Co on Monday, as it seized what bankers say may be the last window for such a large block before the end of the year.

Inner Mongolia-based China Shengmu Organic Milk is testing appetite in the syndicated loan market for a $120m three year fundraising.

Merchant banks in Singapore will soon have to come to grips with more stringent capital requirements following the Monetary Authority of Singapore’s (MAS) decision to impose Basel III liquidity rules on them.

Simon Cox is joining Credit Suisse as managing director and co-head of equity capital markets for Australia, leaving UBS where he worked since 2008.

The Bank of East Asia (BEA) has entered into an agreement with Shenzhen Qianhai Financial Holdings to set up a fully licensed securities joint venture in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.