Asia Pacific

Australia and New Zealand Bank has hired from within for its new chief executive, promoting Shayne Elliott to the job.

The Export-Import Bank of Korea (Kexim) has mandated four banks to arrange a non-deal roadshow that is set to begin on October 6.

In this round-up, Hong Kong and Taiwan RMB deposits shrink slightly while RMB cross-border trade settlement surges to new records in both Hong Kong and China, the RQFII programme reaches Rmb410bn ($80bn), Georgia and Kyrgyzstan work on establishing RMB swap lines with China, and Nanning authorities plan a new China-ASEAN currency index.

Thai petrochemical producer Indorama Ventures has made its debut in the Singapore dollar bond market, raising S$195m ($137m) from 10 year notes backed by the Credit Guarantee and Investment Facility (CGIF).

IMAX China has priced its Hong Kong IPO near the bottom of the range to raise HK$1.92bn ($247.74m), after initially guiding investors towards the middle.

Quick Heal Technologies, which makes anti-virus software, has lodged a draft prospectus with the Securities and Exchange Board of India for an IPO that could raise $100m-$150m.

JP Morgan has made two senior hires to its China investment banking business, this time poaching from Bank of America Merrill Lynch and Rothschild as it continues to build its franchise in the country.

Cigarette giant Philip Morris International has cut its stake in its Indonesian unit HM Sampoerna, netting a chunky Rph20.3tr ($1.38bn) in the process. The success of the trade was down to large commitments from anchor orders, who signed up for nearly half of the shares in advance.

The People’s Bank of China announced just ahead of the Chinese national holiday of October 1 that it would allow foreign central banks, sovereign wealth funds and international financial organisations to trade in the onshore foreign exchange (FX) markets.

Manulife Asset Management has appointed a new chief executive officer and chief investment officer for its Taiwan unit.

EDF has expanded its investor base into Taiwan with a $1.5bn bond, the first time a European issuer has bought a dollar bond to the Formosa market.

The European Commission’s proposals to harmonise covered bond regulations across Europe could benefit the market — but will have the biggest impact on covered bond issuers from outside Europe.