Asia Pacific
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Lebanese investment banker Ziad Hayek set out his programme for running the World Bank this week, as the process for selecting the president of the world’s biggest development lender fell into a mire of confusion. In an interview with GlobalCapital, Hayek said his pitch to World Bank shareholders focused on migration, infrastructure finance, climate change, and co-operation with China. By Phil Thornton. -
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Dollar SSA issuance is expected to pick up next week, thanks to a change in the euro/dollar basis swap that is making issuance in the currency more attractive for euro funders. There was still a smattering of dollar trades this week, including a Sofr-linked floater that broke new ground for the format.
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The Basel Committee on Banking Supervision has appointed Pablo Hernández de Cos, governor of the Bank of Spain, as its new chair. He takes over as the committee looks to reflect on post-crisis regulation.
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Futu Holdings, the parent of Hong Kong-based Futu Securities, has pulled off the first IPO by a Chinese online brokerage. The company was on track to raise $160m on Thursday after making a late change to the deal, cutting the size of its float and adding a private placement to an international fund. Jonathan Breen reports.
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Xinyi Group (Glass) Co has launched a block trade of Xinyi Solar Holdings shares,. The company is looking to raise up to HK$1.35bn ($172.3m), according to a term sheet seen by GlobalCapital Asia.
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Only a week after the Shanghai tech board rules came out, onshore companies have started to prepare listing documents and the Hong Kong Stock Exchange has proposed bringing international investors to the market. But onshore companies may not be ready.
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Chinese premier Li Keqiang has told the country’s banks they need to increase their lending to small companies. But the details are fuzzy. Pan Yue reports.
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Singapore-based internet company Sea has raised $1.35bn after boosting the size of a follow-on offering of American Depository Shares (ADS).
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Chinese internet company Ruhnn Holdings is planning to list American Depository Shares (ADS) on the Nasdaq.
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Indian energy company ReNew Power sealed a $375m bond sale on Tuesday with the help of a new, direct issuance structure. But although the notes were deemed to be more issuer-friendly than ReNew’s previous transaction, many were left puzzled by the borrower’s complicated approach to offshore fundraising. Morgan Davis reports.
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Bank of China paid a visit to the euro bond market on Wednesday, raising €500m through its Paris branch. It was just the latest Chinese financial institution to fund in the currency.
