Asia Pacific

Chinese paediatric nutrition company, Biostime International, has signed a $450m one year bridge loan to fund its acquisition of Australian firm Swisse Wellness.

The Federal Reserve backed away from its first rate rise in nearly a decade due to concerns about a weak global economy, with talks now moving to a potential hike at the end of the year. Market observers in Asia reckon it’s time to move away from the Fed and focus on concerns closer to home.

Jujiang Construction Group has filed for an IPO on the Hong Kong Stock Exchange (HKEx) with Guotai Junan International leading the trade as sole sponsor.

India’s Tata Steel has sold down a portion of its stake in automotive unit Tata Motors, pricing the Rp12.5bn ($188.6m) transaction at the bottom of guidance in a trade heavily supported by hedge funds.

Indonesian car rental service provider, Indorent, has picked four banks to helm a $100m offshore loan with general syndication expected after mid-October.

More details have emerged on a request for proposals (RFP) sent by Bharat PetroResources International (BPRL), which is seeking a new $650m loan.

The People’s Bank of China (PBoC) said on Friday that it has appointed the local branch of Industrial and Commercial Bank of China as the renminbi clearing bank for Argentina. The country becomes the second official RMB hub in Latin America, following the footsteps of Chile.

In this round-up, Argentina gets clearing bank, Lord Mayor of London pays a visit, CLSA gives its verdict on One Belt, One Road and HKMA chief calms fears over the renminbi.

Australian lender Macquarie has rejigged its Asia equity capital markets unit with the appointments of Jack Yee and Arthur van Dijk as co-heads of ECM, according to sources close to the moves.

The W524.4bn ($444.1m) IPO of South Korean weapons maker LIG Nex1 is proving a hit among foreign investors, say bankers close to the deal.

Trade & Development Bank of Mongolia (TDBM) is hoping to replicate the success it had earlier this year with a new 144A/Reg S offering.

China’s National Development and Reform Commission (NDRC) this week released new guidelines for offshore corporate bond issuance. While the move is supposed to further simplify the process and relax existing restrictions, the new rules have created a lot of uncertainty and led to fears that it will make offshore bond issuance more difficult, writes Carrie Hong.