Asia Pacific

Adam Lavis, head of equities for Australia and New Zealand at Citi, is retiring from the bank after eight years.

Deutsche Bank’s former co-head of equity capital markets for Australia has joined Macquarie in a senior position, according to a source close to the situation.

Socam Development, part of the Shui On Group, became a victim of a weak market backdrop this week, pulling a planned dollar bond after investors balked at its pricing expectations. Addison Gong reports.

Banco Sabadell and ASB Finance launched senior bonds in the euro market on Monday, with the former hitting the ‘sweet spot’ of investor appetite and the latter struggling to achieve the same level of demand as its Kiwi peer ANZ New Zealand had last week.

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.