Asia Pacific

The Korea Exchange has temporarily banned NH Investment & Securities (NHIS) and Korea Investment & Securities (KIS) from sponsoring growth-track IPOs in the country until November 2020, according to multiple sources close to the situation.

The Natural Disaster Fund, backed by the UK government, has a first option to subscribe to a small catastrophe bond to be issued by the Danish Red Cross, which conveys volcano risk.

BMW returned to the Panda bond market on Wednesday, raising Rmb3.5bn ($509m) from a privately-placed deal. The shortest tranche got plenty of demand from local investors, helped by flush short-term liquidity.

Vietnam Prosperity Joint Stock Commercial Bank (VPBank), a private sector lender, raised $300m from its international bond debut this week. The deal was helped by the scarcity of supply from Vietnam, but finding the right price proved a challenge for those on and off the deal.

Budweiser Brewing Co Apac was set to price its multi-billion-dollar Hong Kong IPO at the bottom of guidance on Thursday, according to a banker on the deal.

Deutsche Bank’s staff were dealt a crushing blow this week when it announced a full exit from the equities business and 18,000 job cuts globally. In Asia, the move has led to the equities capital markets unit all but disappearing. Jonathan Breen reports.

Citi hires from PE fund — Former CS banker comes on board HSBC — Rabobank appoints Asia capital markets head — India touts 35% free float for shares

It is a truth universally acknowledged that a single man in possession of a fortune should not wear a t-shirt to work. But apparently no-one has told a whole generation of scruffy tech teenagers.

Chinese telecommunications firm Huawei Technologies, which has faced the wrath of US president Donald Trump recently, is syndicating a $1.5bn loan amid a “sensitive time” in US-China trade relations. Pan Yue reports.

United Laboratories launches HK$1bn loan — Goshawk seeks $500m in Asia — West China Cement returns for $150m — Wolong debuts in euros — Jingneng Clean Energy pays up for comeback

Indonesian state-owned Perusahaan Listrik Negara (PLN) sold $1.4bn of bonds this week, split equally between 10 year and 30 year tranches, pricing both slightly inside fair value.

Melco Resorts & Entertainment, a Macau casino operator, returned to the dollar bond market on Wednesday, selling $600m of eight year bonds just a few months after a $500m issue in April.