Asia Pacific

Nomura has reshuffled its structured products business by promoting John Goff to the role of head of global markets structuring, according to an internal memo seen by GlobalCapital Asia.

Taiwan’s Asia Cement Corp is looking to end its more than two year absence from the convertible bond market, having obtained board approval for a $400m offering on August 11.

A beauty parade is underway among banks in India for the sell-down of 10% of the government’s holdings in state-controlled Indian Oil Corp, which could net Rp101.6bn ($1.6bn) based on its current share price.

The Government of the Union of Myanmar has hired Citi and Standard Chartered as sovereign credit rating advisers as it looks to pave its way to the international debt market.

China’s National Development and Reform Commission (NDRC) has finally approved China Development Bank (CDB)’s long-waited Formosa bond issuance in Taiwan. NDRC’s approval of a Rmb5bn ($790m) quota will make CDB the first Chinese bank headquarters to issue in Taiwan’s RMB market.

A Standard Chartered led borrowing for automobile parts maker Zhongding Hong Kong will see the company fully exercise a greenshoe, taking the loan size to €150m ($165m). Eight banks have committed to the facility during general syndication and two more are processing their approvals.

Bank of Communications (BoCom) Financial Leasing is preparing for its first bond of the year, having mandated five banks to run the deal.

There was widespread surprise among analysts on Tuesday at the People's Bank of China (PBoC) move not only to weaken the onshore RMB (CNY) fixing by nearly 2% overnight, but also introduce a new system to establish the daily central parity rate from August 11.

The Asian Development Bank (ADB) has received approval to provide a loan and partial credit guarantee to support the issuance of what could be the Philippines’ first green bond.

The CNY rates market slumped on Tuesday after the People's Bank of China (PBoC) dropped its currency fixing by a record 1.9% alongside announcing a new methodology for conducting its daily fix. USD/CNY was set at 6.2298, its lowest level in almost three years.

Property developer HKR International is considering increasing the size of its borrowing to HK$6bn-HK$7bn ($774m-$903m) after receiving a strong response in a market where Hong Kong credits have been scarce.

Department store operator Metro Retail Stores Group is gearing up for a fourth quarter listing on the Philippine Stock Exchange having filed its preliminary prospectus on August 9.