Asia Pacific
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China’s Wolong Electric Group is tapping the offshore market for the first time, seeking a €150m loan through sole lead bank Standard Chartered. -
Prime US real estate investment trust is on the road for a potential S$834.5m ($613.8m) listing on the Singapore Exchange, with over half of the units already taken up by cornerstone investors.
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Former Credit Suisse banker Jinzi Huang has joined HSBC as an associate director for structured finance and illiquid distribution.
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China’s overnight interbank collateral repo rate fell to a five year low late on July 4, indicating ultra-flush liquidity in the interbank market. But the city-level commercial banks and private enterprises that are in dire need of the liquidity remain thirsty.
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In this round-up, 25 companies will be listed on the Shanghai Stock Exchange’s new tech board on July 22, China’s FX reserves climbed to a one year high and the China Securities Regulatory Commission (CSRC) is set to give permission to domestically funded securities houses after a 10-year hiatus.
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Louis Dreyfus Asia has priced its $500m three year revolving credit facility at the same level as its last loan from 2018.
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Deutsche Bank’s plan to exit its equities sales and trading businesses globally as part of a far-reaching overhaul of its operations has led to many departures in Asia.
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Debt-laden Kangde Xin Composite Material Group is facing punishment from a Chinese regulator for inventing Rmb11.9bn ($1.73bn) of profits on its book over the past four years despite being loss-making, and could be forced to exit the A-share market.
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India has proposed increasing the public holding of each stock from 25% to 35% of the total outstanding shares.
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Hong Kong-listed Jiayuan International Group has wrapped up an exchange-plus-new money offering worth $225m.
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Hong Kong-listed pharmaceuticals company United Laboratories International Holdings is tapping the loan market for a HK$1bn ($128m) deal, almost six years after cancelling a smaller facility.
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India is planning to sell foreign currency bonds for the first time, in a move that has excited capital markets participants and raised debate about the deal’s timing and pricing.
