Asia Pacific
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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). -
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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The price of real estate developer Kaisa Group Holdings' dollar bonds climbed after China announced a detailed plan over the weekend to develop the company's hometown, Shenzhen.
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The Asian Development Bank returned to the Kiwi dollar market to print its largest Kauri deal since January 2018 this week. With the Inter-American Development Bank and International Finance Corporation set to follow with a pair of taps in the coming days, bankers are expecting a busy few weeks in the market as investors react to the recent surprise interest rate cut from the Reserve Bank of New Zealand.
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In this round-up, the People’s Bank of China announced a new benchmark rate for loans, a reported 1.7 million people held a rally in Hong Kong on Sunday and the issuance of Chinese onshore credit bonds climbed in July
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The People’s Bank of China (PBoC) unveiled a new benchmark rate for bank loans on Saturday. The loan prime rate (LPR) will replace the current one-year lending rate, which has stood still for four years at 4.35%, as the new benchmark. The move is aimed at making the lending rates more market-based and lowering the funding cost for the real economy, analysts say.
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Ujjivan Small Finance Bank is readying an IPO of up to Rp12bn ($167.9m), having filed a preliminary "red herring" prospectus with India’s securities regulator.
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Fujian Zhanglong Group Co skirted the market volatility last week to seal a $500m deal on Friday, using up its regulatory offshore quota.
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India’s Yes Bank has raised Rp19.3bn ($271.2m) after issuing a block of primary shares.
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Housing Development Finance Corp has made a quick return to the syndicated loan market for a $200m borrowing, five months after it sealed a Samurai loan.
