Asia Pacific

Invitations are out for China Greenland Rundong Auto Group’s $100m three year term loan that comes with a $50m greenshoe. The deal, which has two banks at the top, is open only to senior lenders at the moment.

China took a huge step forward in liberalising its capital markets this week, announcing that Bank of China Hong Kong (BOCHK) and HSBC have been given approvals to become the first foreign banks to issue Panda bonds. While observers are excited by what could lead to a slew of issuance, questions are being asked about the future of dim sum bonds, writes Rev Hui.

South Korean budget carrier Jeju Airlines has announced the terms for its upcoming IPO in October, with the company looking to raise a maximum of W154bn ($130m).

The Reserve Bank of India has proposed a new framework that eases rules for borrowers raising external debt, five months after the government released a report that recommended overhauling and liberalising the existing system.

Bank of America Merrill Lynch has hired Yang Xia from rival UBS for a new role, naming him head of Greater China equities. The appointment takes effect at the end of October.

China and the UK are set to usher in a “golden decade” in their bilateral relations, with the two countries proposing a stock trading link as a key part of the policy. Many have denounced the idea as a bridge too far, but if it goes ahead, the move could be a great leap forward for China’s international ambitions, writes John Loh.

Coal miner Adaro Energy Indonesia has initiated talks with its relationship banks for a loan to refinance existing debt, with a request for proposals expected soon.

Fosun Industrial, an entity owned by Chinese conglomerate Fosun, has hit the offshore syndicated loan market for a $700m three year borrowing.

A surge of contingent convertible debt issuance from Chinese banks in 2015 has failed to prevent volumes falling, with European banks put off the market for large portions of this year, according to Moody’s.

Indonesian oil and gas conglomerate Pertamina has picked three banks for a potential bond and is set to hit the road to meet investors.

In this round-up, the visit to China by UK chancellor George Osborne generates raft of new announcements including plans for Shanghai-London Stock Connect, landmark bond issues, an extension to the RMB-GBP swap line and many, many more; PBoC relaxes requirements for cash pooling scheme.

Selecting and weighting stocks according to their management and governance quality has been an effective hedge against stock losses, especially in bear markets, writes William Cox of Management & Excellence, which created the methodology for the M&E BDO Asiamoney Hong Kong Sustainable Stars Index.