Asia Pacific
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Indonesia’s state-owned oil and natural gas company Pertamina has raised a $1.85bn project loan from a group of 12 banks. -
Swiss firm responsAbility Investments has closed a $175m microfinance CLO via JP Morgan, revitalising an industry which last saw issuance before the financial crisis.
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Australian potash company Danakali will raise a $200m credit facility from lenders in Africa. The syndicated facility will go towards funding the planned Colluli potash project in Eritrea.
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The Black Sea Trade and Development Bank printed its first bond denominated in Azerbaijani manat last week, raising Am10m ($5.9m) with an auction of a two year bond.
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John Flint quit his position as CEO of HSBC on Monday after less than two years in the job, as the bank warned of difficult global conditions in its second quarter results. The bank’s chair Mark Tucker implied the desire for change related to a problem with Flint’s execution of the bank’s strategy, rather than the strategy itself, but the departure has also raised questions about HSBC’s Chinese operations.
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Indian microloan provider Spandana Sphoorty Financial kicked off a two-day bookbuilding for its up to Rp12.01bn ($169.9m) IPO on Monday morning.
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The renminbi fell beyond seven against the dollar on Monday morning for the first time in a decade, in what is viewed as China’s response to its worsening relations with the US.
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China Lesso Group Holding has launched a $900m four year borrowing into general syndication.
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Hong Kong’s Hang Seng Index (HSI) fell by nearly 3% on Monday as a mass strike gripped the city, bringing chaos to public transport and local infrastructure.
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The Republic of the Philippines took advantage of Japanese investors’ hunger for yield with a tightly priced four-tranche ¥92bn ($863.4m) Samurai bond.
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In this round-up, the renminbi dropped below seven per US dollar for the first time since the global financial crisis, Hong Kong-listed companies with weighted voting rights are set to be included in the Stock Connect and regulators will score securities houses based on their ability to manage public opinion.
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The World Bank is preparing to reopen its 'blockchain offered new debt instrument', or bond-i for short, as it looks to market the Australian dollar deal to a more international audience.
