Asia Pacific

Indonesia’s Trikomsel Oke looks set to miss a payment on its Singapore dollar bonds, the first such case in more than six years in the city-state. Although the move is expected to increase volatility in the short term, sources hope it will also shake up any complacency in the market, writes Narae Kim.

Standard Chartered is to close its equity derivatives and convertible bonds businesses in yet another move to bolster its performance by withdrawing from non-core operations. But its timing has surprised some market watchers, who expect a turnaround in equity-linked activity. John Loh reports.

Sri Lanka had to pay up to get its second dollar bond of the year across the line this week, but the money left on the table was more than worth it as the sovereign ended up raising $1.5bn, a record for the country.

Beijing Automotive Group (BAIC) has priced the second euro-denominated bond by a Chinese auto company, following a recent issue from one of its peers. Seven firms in total were hired as joint global co-ordinators for the €500m ($552m) deal after the issuer added five more banks to the syndicate to reward them for placing anchor orders.

The syndication timeline for a $145m loan backing the Blackstone Group’s acquisition of some Indian assets has been pushed back.

China Huarong Asset Management pulled off a HK$17.83bn ($2.30bn) IPO on October 22, pricing one of Hong Kong’s largest listings this year just a few cents off the bottom of the initial range. But the price tag ignited debate about whether the issuer was pushing its luck.

Xinyi Solar raised a smaller-than-expected HK$543.5m ($70.1m) from a top-up placement on October 26, shrinking the deal by about 45%. Despite the transaction being slashed, sources were adamant the company found a good window to raise equity.

You would have thought that a managing partner who oversees capital markets for one of the world's top law firms would be able to hold his nerve in most situations. But a friend of mine has been forced to accept that there are some things he’s simply not cut out for.

China’s growing securitization market is set for another boost with Bank of Communications (BoCom) poised to become the country’s second issuer of credit card ABS.

Three Indian state-owned companies have sent out separate requests for proposals for borrowings totalling $775m to refinance existing debt.

Seafood restaurant chain Jumbo Group has launched a S$22m ($15.75m) IPO on the Catalist exchange in Singapore, which if it succeeds will become the fourth biggest listing in the city state this year.

Japan Post Holdings has priced its IPO at the top of the range to raise ¥693bn ($5.78bn), as the country’s government finds big success with its simultaneous triple listing.