Asia Pacific

The coronavirus knows no borders — but the response is all about national power. The same will be true in markets.

Two more bankers are leaving Daiwa Capital Markets Europe’s debt capital markets team, as the bank relocates staff to Frankfurt as part of plans to make sure it can continue to serve EU clients after Brexit.

Logistics conglomerate Ever Flow River Group (EFR) has won approval from the Yangon Stock Exchange to join its sparsely populated board.

Bank of China made headlines last week for selling the first offshore Covid-19 linked bond. But the trade's status as a social bond — the first to come offshore from China — got less attention. The transaction shows the potential for social bonds from the country, while raising questions about why it has taken so long to see such a deal.

TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has agreed a $10bn two year loan to support its bid for Tesco’s Asian assets.

BMW Finance, a wholly owned special purpose vehicle of BMW, brought a Rmb3.5bn ($502m) dual tranche private placement Panda bond on Tuesday. Both tranches received plenty of demand from domestic investors, the result of flush liquidity onshore.

China Water Affairs Group is back in the loan market with a $100m club deal.

SAIC-GMAC will sell a Rmb3bn ($430m) auto loan deal next week, marking its first securitization this year.

United Hampshire US Real Estate Investment Trust (Reit) has wrapped up the international roadshow for its $323.6m Singapore IPO, boosted by investors' search for stability amid volatile markets.

In this round-up, China’s Purchasing Managers’ Index (PMI) dropped to record lows in February, the Hainan provincial government has stepped in to restructure HNA Group and the updated Securities Law took effect on Sunday.

China’s new securities law went into effect on Sunday, making major changes that will benefit issuers in the ‘enterprise bond’ market much more than their counterparts in the rival ‘company bond' market, according to bankers.

Nomura has established a strategic partnership with Indonesian brokerage Verdhana to boost its equities execution and research in the country.