Asia Pacific

Szekely departs StanChart HK DCM – CBA boosts Asia loans – Capital Markets Malaysia gains new chief – China Renaissance hires new M&A co-head

There was a tense finish to the Indian government’s Rp93.96bn ($1.42bn) divestment of its stake in Indian Oil Corp (IOC), with books only covered just before the transaction was due to close thanks to late bids from state-owned insurers.

Mizuho has bolstered its corporate acquisition finance team with a new hire as it strengthens its Asian capabilities.

Commerzbank has appointed former Royal Bank of Scotland banker David So to its Singapore-based debt origination team.

National Bank of Abu Dhabi has appointed an ex-Royal Bank of Scotland banker to helm the financial institutions group for India. The Middle Eastern bank is building out its team in Mumbai, with a view to solidify and expand corporate relationships in India.

Indian conglomerate Reliance Industries is understood to be close to choosing the mandated lead arranger and bookrunner group for a loan that will refinance a $1.5bn facility it raised three years ago.

Rate cuts delivered by the PBoC this week have calmed global equity markets somewhat. In China's rates market a short-end led rally steepened the curve as an initial reaction. Looking forward though, currency market perceptions will be key. Deutsche Bank is amongst those expecting China to take a more sensitive approach with the yuan, writes Maia Ririnui of Total Derivatives.

As the dust settles on a few days of equity insanity, it’s worth recognising that what happens in the Chinese stock market needn't mean much for other emerging markets.

The collapse of Chinese stocks and the continued drop in the price of oil, along with the ripple effects those have had in exchanges worldwide, have shocked market participants and the broader public, but among ECM bankers many think the collapse could not have come at a better time.

CEEMEA is busy digesting a noxious stew of falling oil prices, crashing equity markets and heightened EM bond fund outflows. But the asset class is proving more robust that during previous crises.

One of Asia’s most consistent sovereign issuers, the Republic of Indonesia, plans to come to the offshore bond market in the fourth quarter. It is considering offshore renminbi (CNH), dollars, euros or yen, for what would be its last outing this year.

Capital Markets Malaysia, an organisation backed by the country’s government and regulator, has appointed Azhar Zabidi as its chief executive officer.