Asia Pacific

BNP Paribas has hired an associate for its southeast Asia loans team, GlobalCapital Asia understands.

Jude Krishnan, an associate director of ECM with RHB Securities Singapore, a unit of Malaysia’s RHB Banking Group, is no longer with the firm.

Indonesia’s Bank Permata has hired a bank to work on the country’s inaugural Basel III compliant tier two capital transaction in the offshore bond market.

Less than two weeks after China's first margin loan ABS made its debut the product seems to have already struck a chord with the country’s brokerage industry. One of the top Chinese brokers, Citic Securities, obtained board approval on August 14 to sell up Rmb1.5bn ($235m) of ABS over the next two years.

Chinese automobile dealer Zhongsheng Group Holdings has increased the size of its borrowing to $250m from the launch of $150m, raking in plenty of demand from lenders during general syndication. The borrower decided to diversify the set of currencies to include euros and Hong Kong dollars, as it wanted to limit its US dollar exposure in a depreciating renminbi environment.

The close trade links between Germany and China are the main driver for a promising German RMB market. Marcus Sehr, global head of institutional cash, global transaction banking, at Deutsche Bank, tells GlobalRMB that new trade transactions should be the real key to promote more local RMB use.

Kingboard Chemical Holdings is looking to increase the size of its loan to HK$6bn ($773m) from the launch size of HK$5bn, following robust demand from banks during general syndication.

GMR Infrastructure is planning to hit the equity capital market for Rp25bn ($393m) in funding, once shareholders give it the green light. The move comes after the firm raised Rp14bn in a rights issue earlier this year.

Norton Rose Fulbright has boosted its Hong Kong team with a new hire, appointing Terence Lau as a corporate and equity capital markets partner.

In this round-up, China's cross border RMB trade settlement falls in July, Seoul plans to launch RMB/Won futures in October, Moscow Exchange sees growing CNY/Rouble spot and swaps turnover, China's central bank issued its yearly financial stability report, and the UK's foreign secretary said during a visit to China that London would keep supporting RMB internationalisation initiatives.

Tat Hong Holdings, a Singapore-listed supplier of heavy machinery, has picked Taiwan Stock Exchange as the venue for listing its tower crane rental businesses in China.

Dongfeng Nissan Auto Finance completed its return to the Chinese auto loan ABS market with a Rmb1.5bn ($242m) deal this week. Not only did the joint venture firm manage to get a bigger trade done, it also got far better pricing this time around than in its debut last year.