Asia Pacific

In this round up, the US government is considering blacklisting five other telecom companies, the People’s Bank of China (PBoC) intervened three times in the renminbi FX market and two of the four mega banks are ready to launch their own wealth management subsidiaries

China's Frontage Holding Corp has raised HK$1.6bn ($204.6m) with an IPO on the Hong Kong Stock Exchange, after pricing the deal at the top of its guidance range.

India’s Department of Investment and Public Asset Management (Dipam) is seeking banks to lead the IPO of broadband group RailTel Corp of India, according to a filing on its website.

MUFG has appointed Noriaki Goto as the new regional executive for Asia, effective immediately, alongside two other senior positions in the financial conglomerate.

The green bond market is going through one of its most intense periods, with a wide variety of high profile issuers joining the market. But there are also hints of novelty in the market. The Netherlands and KfW have used systems for classifying green investors, while Germany is considering a radical idea: whether Bunds could be issued with detachable green certificates. Jon Hay reports.

Bank of Queensland was able on Thursday to shave off the new issue premium for its new covered bond. It offered a juicy spread at a time when supply of high coupon deals in the asset class is threatened by the European Central Bank’s liquidity operations.

The offshore loan market has been quiet this year as Chinese companies have either cut or postponed their fundraising plans. Having stocked up well with debt at the end of last year, and with the onshore market offering new opportunities, many borrowers are simply happy to sit by and wait as the US-China trade war rages on.

Barclays plans to follow Crédit Agricole and Handelsbanken into the Kangaroo bond market. The UK lender mandated leads for a deal on Wednesday after the other two banks brought deals on Tuesday.

China has made great strides in developing its bond market. But bankers and credit analysts admit there are still major problems with the accuracy of financial accounting. Rebecca Feng reports.

Biopharmaceuticals company Mabpharm launched bookbuilding for its up to HK$1.53bn ($195m) flotation, while Hansoh Pharmaceutical Group set pre-marketing in motion for its Hong Kong listing.

Mulsanne Group Holding broke new ground this week by pricing its IPO below the initial marketed range, debuting a mechanism introduced to the Hong Kong stock market just last year. The move could become more common in the city if US-China trade tensions continue to ramp up market volatility, according to equity capital markets bankers. Jonathan Breen reports.

The Trade and Development Bank of Mongolia (TDBM) postponed its proposed dollar bond on Thursday, after opening the order book for the three year notes on Tuesday.