Asia Pacific

The International Finance Corp (IFC) started its 2019/20 funding year on Tuesday with a pair of Swedish krona green bond taps in the private market.

The Shanghai Stock Exchange (SSE) has pledged to host at least 25 companies on the Star board by July 22, when it opens for trading. That tight deadline caused nine companies to open books on the same day this week.

Chinese property developers have started opting for longer tenors on their dollar bonds, as investors eagerly take on duration risk. As the interest rate outlook becomes clearer, the trend is set to continue — but only for a select few. Addison Gong reports.

India’s plan to sell foreign currency bonds for the first time has prompted eager speculation among debt bankers in Asia. While bankers disagree over when the deal will launch and exactly what fair value will be, many expect the deal to come with a razor-thin spread. Silas Brown reports.

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.