Asia Pacific

The African Development Bank has issued its first offshore renminbi bond, in what the supranational has described as a ‘strategic objective’ in response to a growing investor base for the currency.

The Bank of East Asia returned to the market with a Basel III-compliant additional tier one (AT1) deal, paying no premium despite reporting disappointing interim results for the first half of 2019 and amid the turmoil in Hong Kong SAR.

Warehouse construction form and lessor ESR Cayman has revived plans to list in Hong Kong, three months after pulling a possible billion dollar IPO mid-roadshow.

Moody’s has promoted Wendy Cheong as regional head for Asia Pacific, according to a press release.

Kenny Chan, head of syndicated finance and corporate advisory at Hang Seng Bank, has left the lender, according to sources.

Indonesian state-owned power company PLN has diversified its funding sources. It debuted in the Samurai market, raising ¥23.2bn ($215m) from three bonds while paying a small premium over its outstanding dollar curve.

In this round-up, China’s consumer price index (CPI) inflation remained unchanged in August, total social financing saw steady traction and Huawei Technologies is poised to issue its first onshore bond.

In this round-up, both China and the US offered signs of peace around trade, the China Securities Regulatory Commission (CSRC) rolled out 12 measures for further market reform and opening up, and the country’s top internet authority is tightening its control over online content.

AllHome Corp has gone live with its IPO in the Philippines, as it works with a five-strong syndicate to raise up to Ps15.8bn ($304.2m) from a mixed primary and secondary share offering.

State Bank of India is looking to raise at least Rp26.95bn ($378m) from a stake sale in SBI Life Insurance Co, receiving a flood of early demand.

After several years of rumours and speculation, Russia’s long nurtured plans to issue renminbi government bonds will come to fruition in this year or in early 2020. The country will not borrow in dollars, but may borrow in euros and yuan, writes Lewis McLellan.

Several participants familiar with the London Stock Exchange Group's (LSEG) bid to buy Refinitiv are unimpressed by Hong Kong Exchanges and Clearing's (HKEX) £31.6bn bid for the LSEG itself and believe it unlikely to tempt shareholders. Silas Brown and Karoliina Liimatainen report.