Asia Pacific

Kaspi.kz, the Kazakh payments group, is preparing to list global depositary receipts (GDRs) on the London Stock Exchange this autumn, as EM deals provide a brief glimmer of hope for the UK capital as Brexit volatility has killed the hopes of many UK issuers.

Bankers were surprised that the African Development Bank placed a one year bond last week linked to environmental, social and governance (ESG) factors.

Chinese logistics company Best has sealed a $175m convertible bond, benefitting from a jumbo anchor order from Alibaba Group Holding.

Global Cloud Xchange (GCX), a subsidiary of India’s Reliance Communications, has filed for bankruptcy protection with a US court, and plans to carry out a potential debt-to-equity swap that could reduce its bond debt by $150m.

Chinese acoustic components maker GoerTek is making a comeback to the loan market after a two-year break, seeking $300m for refinancing.

CIMB Group has rejigged its top management team across multiple divisions and hired a new chief executive officer for its Islamic banking operation.

Keppel DC Real Estate Investment Trust has launched a one-day sale of new units to raise up to S$235.4m ($171.3m) to fund the purchase of two Singapore properties.

In this round-up, China’s industrial profit growth further declined, Chinese state media has hinted at more peacemaking gestures to the US and the London Stock Exchange (LSE) rejected the Hong Kong bourse’s acquisition offer in a strongly worded letter.

Defaults have ripped through Delta Merlin Dunia Textile (DMDT), another subsidiary of Indonesian textile company Duniatex, which missed its first dollar bond coupon last week and recently delayed payments on a loan.

China’s JA Solar Holdings, which was taken private last year, has returned to the offshore loan market, inviting banks to join a $100m facility.

GlobalCapital Asia is pleased to invite pitches for our annual capital markets and investment banking awards, which reward the most impressive transactions and investment banks of 2019.

London Stock Exchange Group (LSEG) has emphatically rejected the unsolicited £32bn takeover bid by Hong Kong Exchanges and Clearing (HKEG), with LSEG's board suggesting that the deal has profound flaws.