Asia Pacific

HSBC has picked Georges Elhedery and Greg Guyett as co-heads of its global banking and markets (GBM) division, replacing Samir Assaf, who has been handed a new role as chair of corporate and institutional banking.

JS Global Lifestyle Co, a Hong Kong-based small appliance manufacturer, has started taking orders for its second attempt at a listing, launching bookbuilding on Monday at a fixed price.

India’s Aditya Birla Finance (ABF) has closed its second offshore borrowing this year with three lenders.

Poly Property Development has launched a roadshow for its Hong Kong IPO, with Singapore's sovereign wealth fund GIC throwing its weight behind the company.

Months after failing to repay both renminbi and dollar bonds, Haikou Meilan International Airport has now confirmed the non-payment, adding to the spate of recent defaults from Chinese issuers.

Certified green bond issuance globally has reached new highs this year, boosted by transactions from some of China’s largest banks. But deal flow from the Mainland still remains focused on the onshore market, with just a small group of borrowers venturing out to international investors.

In this round-up, Chinese exports shrank in November while imports rose unexpectedly, the China Banking and Insurance Regulatory Commission (CBIRC) will lift foreign ownership caps on life insurance companies to 51%, and the Mainland will waive import tariffs on US soybeans and pork.

Responsible investors like to think they are helping to advance the fight against climate change. But 13 years after the Principles for Responsible Investment was founded, with $86tr of assets now managed according to them, most investors are still positioned as if the very policies they desire were never going to happen.

GDS Holdings raised $250m from a follow-on offering of new shares on Thursday, according to a term sheet seen by GlobalCapital Asia.

Chinese real estate firms Seazen Holdings Co and China South City Holdings both came to the dollar bond market this week, making use of a narrowing window for issuance before the year ends.

GAC-Sofinco Auto Finance, a joint venture between Crédit Agricole Consumer Finance and Guangzhou Automobile Corp, wrapped up a Rmb6bn ($851m) four tranche internationally rated auto ABS deal on Thursday. The trade was priced tightly thanks to the issuer’s good relationship with banks.

Malaysian energy services group Serba Dinamik International faced an uphill battle on Thursday when it courted investors for a new bond.