Asia Pacific

When I was a banker, you only signed a non-disclosure agreement if you had serious interest in joining a deal. Not anymore.

Philip Brown and Sanaa Mehra are leading a new unit at Citi, the latest the bank has designed for its sustainable finance business.

Chinese property company Tahoe Group defaulted on an onshore bond this week because of struggles with tight liquidity, limited market access and poor corporate governance. But its shares still ended up soaring amid a mainland-wide rally in stocks. Addison Gong reports.

Property managers Zhenro Services Group and Greentown Management, along with developer Ganglong China, all priced IPOs this week, albeit with different responses from the market.

Chinese property companies Kaisa Group Holdings, Yango Group Co and Overseas Chinese Town (Asia) Holdings raised a combined $1.5bn from their bonds on Wednesday.

Huawei Technologies, sanctioned by the US and now having its participation in the UK's 5G network questioned by the government, looked into raising hundreds of millions of euros in the Schuldschein market two years ago. But concern that buyers would freeze at a groundswell of negative news, whipped up in part from the US, scared the Chinese company off taking the risk. Its increasing isolation in major European countries means it is unlikely to use its capital markets any time soon.

A big rally in China’s stock market this week ended up hitting bond prices onshore — and sparked worries about the sustainability of the equities rebound.

Indonesia’s Perkebunan Nusantara III (PTPN) is seeking lenders’ go-ahead for a debt restructuring plan, after missing the principal payment on a $390.6m loan at the end of June.

HSBC has hired two bankers from Deutsche Bank in Singapore to boost its equities business in southeast Asia.

ICICI Bank has got the go-ahead to raise up to Rp150bn ($2bn) in its first tap of the equity capital market in over 13 years.

Kookmin Bank has priced its debut euro covered bond flat to where its higher rated compatriot, Korea Housing Finance Corporation (KHFC) would have been expected to come. The deal was said to have attracted additional demand due to its social theme, spurring hopes that further similar issuance would follow.

Durreen Shahnaz is founder and chief executive of Impact Investment Exchange (IIX), which says it created the world's first social stock exchange. She tells GlobalCapital about how we can rebuild a better economy, with the help of capital markets, after coronavirus.