Asia Pacific

Hong Kong IPO issuance has seen healthy volumes so far this year. At $68.3bn, according to Dealogic, new listings on HKEx have already reached the level achieved for the entire year in 2014. The outcome of deals, however, remains heavily dependent on cornerstone investors, while oversized syndicates have sadly been back in full force since at least late spring, writes Philippe Espinasse.

China International Capital Corp, which brought in 11 joint global co-ordinators for its Hong Kong IPO, has priced the deal at the top of the range to raise HK$6.29bn ($812m).

Sri Lanka’s Bank of Ceylon, which last accessed the offshore loan market in 2013, is making a comeback for a new $100m borrowing.

National Bank of Abu Dhabi (NBAD) has reaffirmed its Indian ambitions with the purchase of the Royal Bank of Scotland’s portfolio of offshore loans to the country’s corporates.

InterGlobe Aviation and SH Kelkar & Co have found huge success with their respective Indian IPOs, with books multiple times covered as investors flooded into the transactions.

Rabobank has announced two senior management changes to its Australia and New Zealand operations, promoting Peter Knoblanche and Todd Charteris from within.

China State Construction Engineering Corp has picked seven banks to arrange a roadshow ahead of its return to the offshore debt market.

The Republic of Korea is likely to be dipping into the Panda bond market for its first renminbi-denominated trade, after the Chinese central bank gave the deal its blessing over the weekend.

The Export-Import Bank of Korea (Kexim) is testing investors’ appetite for a dollar bond, its first since receiving a credit boost from Standard & Poor’s in September.

Indonesia’s Summarecon Agung has pulled a planned $200m-$250m IPO of Summarecon Investment Property (SIP) at the eleventh hour to pursue a real estate investment trust (Reit) instead.

CDB Leasing has approached lenders for a $300m fundraising, marking its second outing in the loan market this year.

Daniel Ng, one of China Merchants Securities’ (CMS) most senior bankers and a veteran of the Hong Kong and China capital markets, is understood to have left the firm recently.