Asia Pacific

Two Indian pharmaceutical companies, Cipla and Lupin, are sounding out banks for loans to fund recent acquisitions in the US.

Houston Huang Guobin, a former Goldman Sachs coverage banker, has decamped to JP Morgan to take up the position of head of global investment banking for China.

Citi has appointed Andrea Vanara as its Asia Pacific head of treasury advisory group, a position that has been vacant since last November.

IMAX China started testing investor appetite for its $300m-$500m IPO in Hong Kong on Tuesday, even as sentiment in equity markets remained dour and shares in the city fell 0.49%, tracking losses in Shanghai.

Critics have raised red flags over China’s newly-mooted circuit breakers, arguing that the answer to state intervention in its stock market should not be more state intervention. The plan comes at an uneasy time, but is one that will work in China’s favour in the long run.

Weichai Power has mandated four banks to work on a proposed dollar offering, which would mark the company’s first outing in the international bond market.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has wrapped up and allocated its latest borrowing of $200m, double the launch size, despite struggling to gain traction in the beginning.

The Hong Kong government this week made its pitch to be the link between Asean countries and China under the ‘One Belt, One Road’ initiative. The city should leverage its “super-connector” role to become the Asean trade centre on the OBOR map, said So Kam Leung, Secretary of Commerce and Economic Development Bureau of Hong Kong at the Hong Kong-Asean Summit on September 14.

Swire Pacific found success with its $500m bond, making a comeback to the debt market after a gap of nearly two years. The scarcity element of Hong Kong names and the high calibre of the issuer helped drum up robust demand, allowing the company to price its notes with very little new issue premium.

Philippines’ Rizal Commercial Banking Corp (RCBC) is considering increasing the size of its $200m three year fundraising, after gathering commitments from 15-16 banks in syndication.

Indonesia's Mitra Pinasthika Mustika Finance has tasted success with its maiden outing in the offshore syndicated loan market, increasing its deal to $150m and establishing relationships with lenders across Asia.

HSBC has named a new Hong Kong CEO, a position that has been vacant since the departure of Anita Fung earlier this year.