Asia Pacific

Bank of Shanghai has launched its first sole mandated international loan into general syndication.

Road King Infrastructure returned to the dollar market for the fourth time this year on Monday. The borrower, which has favoured fixed-for-life perpetual bonds before, offered investors a slightly different perpetual deal this time that would see its coupon be reset but has no additional step-up.

Chinese local government financing vehicle Qingdao West Coast Development (Group) Co sold its inaugural offshore bond on Monday, pricing the notes in line with its better-rated peer after an aggressive tightening.

The Securities and Futures Commission of Hong Kong has fined UBS HK$400m ($51m) for overcharging its clients over a 10-year period — in the latest penalty to hit the Swiss bank in the city.

BMW Auto Finance (China) has wrapped up its last foray of the year into the Chinese auto loan ABS market with a tightly priced deal. A diverse group of investors took up the senior tranche of the Rmb8bn ($1.14bn) trade, said bankers.

After more than two decades with Goldman Sachs, India co-chief executive officer Vijay Karnani is set to retire at the end of the year, according to a memo seen by GlobalCapital Asia.

State Bank of India is looking to raise about Rp80bn ($1.1bn) by selling a minority stake in SBI Cards’ planned jumbo IPO, according to a banker on the mandate.

South African mining company Heaven-Sent Gold Group Co has hit the road to drum up demand from investors for its Hong Kong listing, which could be worth up to HK$1.4bn ($179.8m).

In this round-up, MSCI is set to give a boost to China A-shares again at the end of the month, CPI inflation accelerated to the fastest pace in seven years and the China Securities Regulatory Commission (CSRC) has decided to allow unprofitable companies to list on the ChiNext board.

Chinese biotechnological company Venus Medtech (Hangzhou) is set to launch its Hong Kong IPO, having lined up an international syndicate to run the deal.

State-owned Chinese bond issuer Tewoo Group Co has picked firms to manage $1.25bn of its offshore debt as maturities loom, and is eyeing a potential exchange offer.

In this round-up, the People’s Bank of China (PBoC) sold Rmb30bn ($4.3bn) of central bank bills in Hong Kong, China’s foreign reserves grew slightly and the Shanghai Stock Exchange (SSE) took an important step to improving foreign participation in its Star market.