Asia Pacific
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Auckland Council appointed banks on Monday to arrange a roadshow for a euro benchmark with an intermediate to long maturity, in what will be its first bond in the currency since 2017 -
Being a banker is no longer about being book smart, but more about being street smart, in the age of phishing scams.
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Sunac China Holdings has raised a $280m loan term from five lenders.
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China introduced its new benchmark rate, the loan prime rate (LPR), over the weekend, with the first rate published on Tuesday. The reform, which aims to help companies lower their funding costs, is likely to boost the onshore market but will make the already slow offshore market even more difficult.
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Singapore Telecommunications (Singtel) enjoyed a rare outing in the dollar bond market on Tuesday, nabbing $750m. Morgan Davis reports.
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UBS sold an Australian dollar additional tier one capital note on Tuesday, surprising those involved after it managed to shave 75bp off of its initial pricing guidance on the back of a A$4bn ($2.7bn) orderbook. Market participants expect more banks will now want to look at the Kangaroo market for capital issuance, with BNP Paribas having also launched an AT1 in the currency last month.
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Following last Friday’s Asian Development Bank Kiwi dollar deal, the Inter-American Development Bank and International Finance Corporation both came to the Kauri market on Tuesday to tap a pair of mid-curve notes. With demand for mid-curve Kauri products high, bankers expect more issuers to follow as funding remains attractive for dollar-based borrowers.
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China unveiled a new benchmark rate, the loan prime rate (LPR), for loans this week. While hailed as a groundbreaking step towards making its benchmark lending rate more market-driven, the mechanism for determining the LPR in fact grants the central bank more control over the country’s interest rates.
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The Philippines’ Securities and Exchange Commission has given the greenlight to homeware store chain AllHome Corp to list on the local bourse for up to Ps20.7bn ($394.7m).
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SBI Cards and Payment Services, the credit card subsidiary of State Bank of India, has invited investment banks and lawyers to submit proposals to work on its IPO.
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Far East Consortium International (FEC) is in talks with banks to raise a bridge facility of around HK$1bn ($127m) to support its acquisition of a land plot in Kai Tak, this site of Hong Kong's old airport, from the government.
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